Pierre: Youth Economy First Step In Transforming Saint Lucia Economy

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Prime Minister Philip J. Pierre has declared that the Youth Economy is step one in reworking the Saint Lucia financial system, pushed by expertise, innovation, and entrepreneurship.

In his finances coverage assertion Tuesday, he described youth unemployment, which is excessive on the Authorities’s precedence record, as one of many nation’s main challenges.

In keeping with the Castries East MP, youth disenchantment continues to be a perennial drawback.

He famous that over 15,000 younger persons are unemployed regardless of a number of youth-related enterprise programmes carried out by NGOs and native private and non-private sector companies.

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“It is because my administration believes that every young person, irrespective of their socio-economic circumstances has the potential to make a positive contribution to the development of their community, that we have taken up the responsibility to address the apparent deficiencies in the existing youth-related business programmes,” Pierre said.

The Minister of Finance introduced {that a} statutory physique with its personal board of administrators would handle the Youth Economy to keep away from pointless forms and make well timed choices.

The statutory physique will collaborate in formulating outreach programmes in communities with private and non-private sector social companions, emphasising at-risk, city, and rural youth.

Pierre stated the physique would deal with the areas of coaching, advertising, finance (loans and grants), and mentorship.

Pierre introduced that an quantity of EC$10 million is offered for the Youth Economy within the Estimates for 2022/23.

“Mr. Speaker, talented youth from low-income families should not be denied the opportunity to monetise their skills because they cannot afford the necessary equipment. Talented young athletes should no longer be denied the opportunity to participate in regional or international competitions because of the lack of access to finance, to purchase sporting gear, and to secure travel arrangements,” the Prime Minister declared.

And he indicated that the Authorities would right “these impediments.”

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