Finance Minister Ken Ofori-Atta has said the 2022 Budget will address what he described as the triple helix albatross.
He mentioned high unemployment, growing public debt and inadequate infrastructure crisis in the country.
The Minister and the Akufo-Addo government have come under severe backlash after he presented the 2022 budget statement and economic policy proposal to parliament on November 17.
Amid the continuous criticism the budget will inflict more untold hardship on Ghanaians, Ken Ofori-Atta has at a press conference on Monday, December 6, assured the country that it won’t be the case.
According to the Finance Minister, the 2022 budget has been carved in a way with policies and initiatives that will solve Ghana’s greatest problem of unemployment.
“...the National Budget remains the single most effective tool to address the greatest challenges of our nation. As a country, we cannot allow such a strategic national tool to be held hostage by partisan interests, especially when the consideration stage offers every opportunity for such redress.
“The 2022 Budget has an added layer of significance for Government as it drives forward the great economic mission of our time – Building a sustainable Entrepreneurial Nation. The Budget seeks to address the triple helix Albatross of our time; high unemployment, high debt and inadequate infrastructure even as we pursue our agenda for increased social mobility and justice for all,” Ken Ofori-Atta told journalists at the press conference today.
Amongst the initiatives in the 2022 budget statement the government is hoping to use to address the problem of unemployment is the YouthStart programme.
The programme is a ground-breaking multi-year GHC 10 billion intervention that will involve the collaboration of Local Financial Institutions, Development Partners and International Financial Institutions.
It seeks to tackle comprehensively the youth unemployment issue. Similar to the Senior High School programme, the YouStart is expected to have an equally momentous impact on society.
In the words of the government, the programme will be a game-changer in social mobility, decent jobs and having dignity.
The programme is designed to provide relevant skills and access to long term affordable capital to empower the youth to create their own businesses and expand the private sector to create more jobs for Ghanaians.