An Economist, Dr Daniel Ennim, has said, the closure of shops by the Ghana Union of Traders Association (GUTA) would have dire consequences on consumers and businesses due to the large numbers of informal workers which make up the economy.
Dr Ennim predicts that people who sell in kiosks and along the street would take advantage of the situation to increase the price of goods which could trigger inflationary pressures.
He says it unfortunate government could not intervene to curb the Association’s industrial action.
Background
GUTA and other Trader Union closed shops indefinitely from today, Wednesday, October 19, 2022. The move was to register their displeasure over the harsh economic conditions coupled with the continuous depreciation of the cedi against major trading currencies such as the dollar, high inflation and continuous increment of taxes.
Members of GUTA have lamented the negative impact the situation has on their capital for businesses as well as the purchasing power of consumers.
-Economy
