00:00For young people entering the workforce, the national budget represents more than government spending.
00:05It can influence their access to education, employment opportunities, and the country's ability to create sustainable careers.
00:12At a budget discussion hosted at the University of the Southern Caribbean under the theme It's All About the Economy,
00:19youth panelists examined whether the 2026-2027 national budget addresses these priorities with unemployment emerging as a key concern.
00:28As my colleague here said, we expect in January 2027 that the unemployment rate, especially around young adults between the
00:40age of 18 to 25, is going to be very high.
00:45And I didn't get that satisfaction in the budget.
00:49To me, there was no plan put in place for young people and the unemployment rate.
00:54The panelists expressed their concerns as they considered whether existing training and employment initiatives could prepare young people for the
01:02job market.
01:03While some participants expressed dissatisfaction with the measures outlined,
01:07others pointed to vocational training and internship opportunities as positive steps towards bridging the gap between education and employment.
01:16I was keen to see strong investments in youth-targeted economic diversification and technical training to absorb school leavers into
01:26sustainable careers.
01:28And to me, this was adequately addressed through expanded vocational training modules and structured internship allocations,
01:37helping bridge the critical gap between classroom education and labor market demands.
01:43Beyond immediate employment concerns, the discussion turned to the country's dependence on the energy sector.
01:50One panelist argued that greater investment in non-energy industries was necessary to reduce the economy's vulnerability to changing international
01:58oil and gas prices.
02:00Too many times the energy sector bails out our economy.
02:03So what I wanted to see was a little bit more in pumping up the non-energy sector so we
02:08don't have to depend on our luck and the natural resources under the seabed,
02:15the hydrocarbons under the seabed.
02:16The panel also questioned whether the country was doing enough to prepare for a future in which oil and gas
02:22revenues might become less reliable,
02:24with renewable energy identified as an area requiring clearer direction.
02:29Another challenge discussed was access to foreign exchange, particularly for small and medium-sized businesses that depend on imported goods,
02:39equipment, and raw materials.
02:41Well, you know, when forex is short, businesses can't pay their overseas suppliers, at least on time that is.
02:48So stock and raw materials run low, many turn to the parallel markets, where the rate is much, much, much
02:57worse, and that rises prices for consumers.
03:00So manufacturers and farmers who rely on imported inputs slow production, and that also cuts exports, which are how we
03:10earn forex.
03:11So slower output leads to reduced hours, hiring, freezes, and layoffs, with small businesses hit the hardest because they have
03:20the least cushion.
03:21Panelists further raised the concerns about fiscal transparency, arguing that the public should have clear access to information on government
03:29spending and major state projects.
03:31For these young voices, the budget debate ultimately came down to opportunity, accountability, and economic resilience.
03:38Shala Kistu, TV6 News.
