The Minister for Finance, Ken Ofori-Atta, has disclosed that one of the government’s youth employment initiatives Nation Builder’s Corps (NABCO) programme will end on September 1, 2022.
“Mr Speaker, our iconic National Builder’s Corps (NaBCo) programme, which was initially to run for three years and extended for an additional year, will be completed by 1st September 2022. The Programme- which engaged 100,000 young graduates, has prepared thousands of them for the world of work. So far we have invested approximately GH¢2.2 billion.
“As they exit, the current cohort on the programme are encouraged to take advantage of the YouStart initiative and other existing programmes in our drive to Build an Entrepreneurial Nation,” the Finance Minister, Ken Ofori-Atta disclosed in the Mid-year budget review presentation on Monday, July 25, 2022.
He explained that the “Government’s policy is to support dynamic young entrepreneurs access training and funds to build their businesses and become a significant pool of job providers for their fellow young people.
“We, however, recognise that our post-COVID economic recovery has been uneven and risks remain high. According to the IMF, the global outlook is grim and has darkened significantly, global uncertainty is exceptionally high, and 2023 is even more uncertain. However, in the 2022 Budget, we committed ourselves to chart a course towards growth and fiscal sustainability and this Mid-Year Fiscal Policy Review reasserts that commitment.”
The Minister also stated that the nation has seen some major shifts in the budget assumptions compared to what was presented in November 2021.
He added that “These changes have led to reduced revenues, increased interest payments and changes in interest rates and exchange rates. However, we are committed to staying within the appropriation for 2022. In spite of the underperforming revenues and strong external headwinds, we are not seeking additional funds in this Mid-Year Review. We are determined to efficiently use the windfall from the upstream Petroleum Sector to make up for our revenue shortfall and aggressively improve our revenues even as we rationalise expenditures.”