Senior Partner at AB & David and Business Strategist, David Ofosu-Dorte, has voiced reservations about the traditional governmental approach during economic challenges.
Speaking in an interview with Joy news monitored by Nana Ama Nyamekye, he noted that the common strategy prioritizes restoring financial and macroeconomic stability, potentially hampering local businesses.
“When our economy faces challenges, the usual response is to restore financial and macroeconomic stability. Unfortunately, this often comes at the cost of stifling micro-level businesses.
We create macroeconomic stability by overtaxing the micro-economy, hindering businesses from scaling up,” he emphasized on Thursday.
Mr. Ofosu-Dorte’s remarks coincide with the imminent introduction of new tax policies this year, driven by the government’s commitment to an IMF program aimed at revitalizing the economy.
He underscored the predicament encountered by micro-enterprises, pointing out that macroeconomic stability is frequently affected by external forces, particularly when governments resort to borrowing.
Mr. Ofosu-Dorte urged local businesses to formulate strategies that reduce their reliance on government policies for growth.
