6.17  Slow  Private  Sector  Development  and  Limited  Gainful  Employment   Despite   stable   macro-­‐economic   indicators   and   declining   prime   rates,   private   sector   development  remains  low.  The  2007  Annual  Progress  Report  (GPRS  II)  argues  that,  lending  rates   can  only  reduce  significantly  if  inflation  and  default  premiums  also  decrease  with  the  prime  rate   to  enable  private  sector  borrow  and  invest  to  create  the  needed  jobs.       Despite  the  low  private  sector  response,  the  government  is  playing  its  role  in  providing  some   employment   opportunities   for   the   youth.   Hence,   seven   out   of   the   10   employment   modules   under  the  National  Youth  Employment  (NYEP)  have  been  rolled  out  and  are  being  implemented   (table   6.1).   A   total   of   107,114   youth   have   been   engaged   on   the   seven   modules   as   at   August   2007.     Table  6.1:  Employment  Modules  under  the  National  Youth  Employment  (NYEP)   Modules     Agri-­‐business   Community  Education  Teaching  and  Volunteers  Teachers   Community  Protection  Unit   Health  Extension  Workers   Waste  and  Sanitation   Internship   Sub-­‐modules  (forestry  &  Revenue  Mobilisation)   Total     Source:  Ministry  of  Manpower,  Youth  and  Employment   Number  Employed     25,383   32,801   2,749   15,000   9,100   5,200   16,881   107,114     6.18  Large  Informal  Sector  Activities  Including  Financial  Markets     6.18.1  Legal  and  Regulatory  Framework     The  legal  and  regulatory  framework  continues  to  be  a  major  impediment  to  the  promotion  and   growth   of   the   informal   sector.   The   APRM   Monitoring   Group   survey   found   out   that,   the   137