More jobs for the youth
President John Dramani Mahama is promising more jobs for the youth since the short-term economic environment of the country looks brighter.
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Addressing students of the University of Cape Coast (UCC) as part of his ‘“Accounting to the people” tour of the Central Region last Thursday, the President said never before had the short-term prospects of the country been so bright.
“Ghana is changing in the right direction,” he said, adding that the positive development would translate into jobs and prosperity for the youth.
The President, who spoke on the topic, “ Rising Opportunities, Entrepreneurship and a Changing Ghana,” used the occasion to outline his vision for the youth and challenged them to take advantage of the numerous opportunities provided by the government to improve their well-being.
President Mahama said initiatives such as the Venture Capital Fund, Microfinance and Small Loans Centre (MASLOC), National Board for Small-Scale Industries (NBSSl) and the Youth Enterprise Support (YES), were available to support them.
“I see entrepreneurs who would grow small-scale businesses to become conglomerates and employ people far beyond the expectation of the government,” he told the large gathering.
Academics
The President expressed the hope that academics would support such businesses with their research and innovation, adding “ that is why I decided to spend one per cent of Ghana’s Gross Domestic Product (GDP) annually on research and development by the year 2020.”
He expressed the hope that the nation would be filled with energetic, innovative and promising youth who were really willing to take advantage of the rising opportunities the government was creating in consultation with the private sector.
That, he said, was possible because the country had navigated the rough terrain and found itself on the path of change.
students of the University of Cape Coast (UCC)
“Ghana is changing and change is occurring in the right direction because it is backed by the implementation of prudent, sound and deliberate policies and programmes,” the President said.
He aso said the changes were not accidental but because the government was doing the right things.
President Mahama lauded the youth for their sacrifices, fortitude and hard work.
He said the accelerated development that had occurred in the country since 2009 was due to competent leadership, application of right policies and the ingenuity and hard work of the people.
Economy
On the economy, the President admitted that the country had been through short-term setbacks including the implementation of the new universal salary structure , which saw remuneration consuming almost 70 per cent of total national revenue; shortfall in revenue occasioned by low gold prices, initial drop in cocoa prices, which later saw a rebound and a drop in oil prices, which were still playing out.
Nonetheless, he said, “We are firmly on a path of accelerated growth and economic expansion to create more jobs.”
President Mahama said from 3.4 per cent per annum in 2015, Ghana’s GDP was projected to rebound to 5.2 per cent this year.
Quoting the World Bank report, the President said that phenomena reflected the positive impact of a more stable energy supply and increased contributions from oil and gas, as well as the agricultural sector.
He also said that Ghana’s medium-term growth prospects of 8.2 per cent predicted in 2017 and 7.5 per cent for 2018 would be above the projected sub-Saharan average of 3.3 to 3.7 per cent.