The government has announced plans to uncap statutory funds dedicated to youth employment and the Ghana Export-Import Bank (Ghana EXIM Bank) as part of broad fiscal reforms aimed at stimulating productive sectors and driving job creation.
Presenting the 2027 Budget Statement and Economic Policy in Parliament, the Minister for Finance, Dr Cassiel Ato Forson, revealed that the administration will amend the Earmarked Funds Capping and Realignment Act, 2017 (Act 947) to inject an additional GH¢1 billion into youth employment and enterprise initiatives.
Under the proposed legislative changes, the Communication Service Tax accruing to the Youth Employment and Enterprise Programme will no longer be subject to capping. Dr Forson explained that freeing up these resources will empower young Ghanaians through enhanced skills training and link them to global employment opportunities. Alongside this fiscal adjustment, the government intends to amend and modernise the Youth Employment Act to better harmonise existing youth-focused programmes across the country.
In a related move to bolster domestic agriculture, the Finance Minister disclosed that levies earmarked for the Ghana EXIM Bank will also be uncapped. Armed with this expanded financial base, the bank will assume primary responsibility for financing commercial poultry and feed production over the next four years under the government’s New Economy Programme.
According to Dr Forson, the decision to remove the caps on these statutory funds underscores the government’s commitment to channelling resources directly into high-impact sectors to accelerate economic growth and expand employment avenues.
By: Rainbowradioonline.com/Ghana
