St. George’s, January 15, 2011 (GIS) â€" The Grenada government is planning to spend more than EC$700 million on jobs, establishing a medical teaching hospital and other initiatives over the next 12 months.
The government’s plans were outlined Friday, January 14, by Finance Minister Nazim Burke as he presented the 2011 Estimates of Revenue and Expenditure before a packed hall at a sitting of the House of Representatives in St. George’s.
This year’s EC$783.4 million budget is 15.3 percent higher than last year’s EC$675.9 million.
Among the money budgeted, $12.6 million will be spent on the introduction of a new initiative to create employment and training for at least 1500 young people under the Grenada Youth Upliftment Programme (GYUP). Last year’s allocation to GYUP was $4 million.
“We believe that the current focus of the Youth Upliftment Programme on education, training and certiï¬cation is good and necessary,’’ Finance Minister Nazim Burke said during the budget presentation.
The initiative will target young unemployed school-leavers, between the ages of 16 and 25, who will be offered employment or training at a private business, state-owned enterprise or state-sponsored programme or activity.
During the period of employment and training to acquire work skills and experience, the young people will receive a basic government-paid monthly stipend.
Minister Burke’s two hours and 45 minutes’ presentation â€" the third budget