Consider entrepreneurship, public sector payroll full – Ofori-Atta to youth

The Finance Minister Ken Ofori-Atta says government is not looking at employing more public sector workers, as enough resources are already being spent on the over 600,000 persons on government’s payroll.

According to the 2021 budget statement, compensation of employees alone as a line item would amount to about GHC 30.3 billion or about 54 percent of the total tax revenue projected to be collected this year.

Speaking at the 13th Congregation ceremony for the University of Professional Studies Accra (UPSA), Mr. Ofori-Atta stated that government will focus on creating the necessary conducive environment for young graduates and other Ghanaians to thrive as entrepreneurs.

“We have gone through a period where most people look for government jobs. But I can tell you that government’s payroll is full. We are currently spending some 60% of our revenue on remunerating some 650,000 people and that is not sustainable.”

“The question then really is whether the UPSA has trained you to be entrepreneurs. And your question is where would I get the financing from ? et cetera. But you do in you have the skills set to be able to do what you have to do. Our responsibility as government is to create an enabling environment and ensure that you have access to the relevant skills and financing. So this upcoming budget will focus a lot on the youth,” he added.

Source:citibusinessnews.com