Poverty, employment report launched

A study report entitled “Towards an Employment-centred Development Strategy for Poverty Reduction in The Gambia:

Macro-economic and Labour Market Aspects" was recently launched by Abdou Kolley, the secretary of state for Trade, Industry and Employment at the Paradise Suites Hotel in Kololi.

The study, which resulted to this report, was commissioned under the Gambia Priority Employment Program (GAMJOBS) and validated in 2007. The study examined economic growth trends, origins and components of gross domestic growth, the structure of the economy and factors underpinning economic growth. The report also provides policy perspectives to enhance national planning towards achieving national development aspiration, through the development and implementation of pro-poor economic and sector policies and strategies as well as developing the capacity to exploit economic opportunities accruing from growth.

In his launching statement, SoS Kolley said the primary purpose of this study was to identify areas in which macro-economic and labour policies can be changed or developed to support employment-focused growth strategy.

The Trade, Industry and Employment SoS also commended the United Nations Development Programme (UNDP) for providing some initial funding and guidance in kick-starting the GAMJOBS program. "The substance and centre thesis of this report suggest that the economic performance we attained over the years cannot be sustained for long and employment cannot be substantially created unless ways and means are found to address current critical issues. The study also presents recommendations that policy makers can use to inform our employment strategies, based on the evidence provided," he said.

Quoting some of the recommendations made in the study, SoS Kolley highlighted that the monetary policy attempts to achieve very low inflation by targeting the growth of the monetary aggregates will often be unsuccessful because of the supply-sided nature of price dynamics in The Gambia ad the weak relationship between the growth of monetary aggregates and inflation.

On the issue of financial sector reform, the Trade SoS revealed that it is necessary to find an alternative approach to the monetary policy. "Policies are needed to channel resources to activities whose growth will improve employment opportunities and thereby improve access to credit," he said. SoS Kolley further emphasised that an exchange rate regime will be managed to ensure international competitiveness and improve the net export position of the country, while industrial policies target sectors that have the highest potential of employment creation, especially for unskilled labour.

For his part, Malang Nyass, the national project coordinator – GAMJOBS - expressed gratitude to all those who contributed to making the study a success. He said the project was launched with support from ILO and UNDP in 2007 and added that the overall objective of GAMJOBS is to create an enabling environment for employment creation through the development of a skilled, versatile, dynamic and efficient workforce.

Other speakers at the ceremony included Madam Limya Eltaytb, the deputy UNDP resident representative and Alieu Ngum, the chairman of the National Planning Commission.