President Bio Reports Economic Progress as Sierra Leone's Inflation Reduces by 18%

President Bio Reports Economic Progress as Sierra Leone’s Inflation Reduces by 18%

President Julius Maada Bio announced that he has received an update from the Economic Management Team (EMT) on the state of the economy, prospects, and partner engagement for the first half of 2024. The report highlights significant improvements in key economic indicators.

According to President Bio, Sierra Leone has experienced an 18% reduction in inflation over the past eight months, with the trend continuing downwards. Additionally, the foreign exchange market has remained stable for the past six months, with a noted appreciation in June.

President Bio emphasized the importance of increased effort from his government team to achieve positive results for the people of Sierra Leone. In a statement following the EMT meeting, he urged his team to enhance revenue mobilization and maintain fiscal discipline to support governance and service delivery.

“At today’s Economic Management Team meeting, I received an update on the ‘State of the Economy, Prospects, and Partner Engagement’ for the first half of 2024,” President Bio stated. “Sierra Leone has seen a reduction in inflation over the last eight months by 18%, and it continues downwards. Foreign exchange has been stable for six months, and it appreciated in the month of June.”

President Bio reiterated his commitment to mitigating the negative economic impacts on the most vulnerable populations, acknowledging the global economic challenges and the disproportionate suffering of the underprivileged.

“We will keep working harder to ensure we lessen negative economic impacts on the population,” he affirmed.

Comment(s)

Disclaimer: Comments expressed here do not reflect the opinions of Sierraloaded or any employee thereof.

| 2024-07-10 17:55:15

The Nle 1.50 that's reduced in fuel ⛽ is as a result of an increase in EDSA price People who are using EDSA metre knows what I'm saying. Continue to lie bio. You are a thief. You stole our votes 😭😭 in Sierra Leone 🇸🇱 2023 but last last God 🙏 will punish you and your generation Even those that are supporting you to destroy us in this country they'll also not Scot free. Mark my words
| 2024-07-10 16:13:55

You short sighted and shallow thinking youths...I can see that, some of you who can read and write cannot relate your learning to your day to day lives...it really is a shame...I suppose you make some efforts to know more by expanding your readings and that very capacity of critical thinking...
jjhumanity | 2024-07-10 12:20:50

Ous inflation wae reduce?una lef den kind lie ya, norto dis same salone wae all man dae?
| 2024-07-10 12:17:43

Ous inflation wae reduce ba??we politicians dem dae lie pas mak.
| 2024-07-10 12:01:58

The only solution to our country's problem is by pledging our lawerty to the nation rather than to political parties and their leaders and stop spreading false news. How can inflation be reduced when we pay the same transportation fee, tool gate in the increase and buy a bag of rice at nine hundred and seventy Leones? Let's stop giving deaf ears to the cry of the suffering Sierra Leoneans.
Andrew Lasite | 2024-07-10 12:01:10

Apparently, and this has been obvious for a while, Bio thinks if he says it, people will believe it. With each passing day, the Leone buys less and less, people continue to suffer and he releases this nonsense. Sure, all those going hungry today will agree. Inflation is down, prices are cheaper and government is paying salaries on time. With his urging for fiscal discipline, will he follow his own advice or is the money that will be raised from revenue mobilation, going to go towards more private plane trips for him and his wife? Bio, you have failed the nation and you capped it off by stealing elections. Sorry, history will not look on you favorably, no matter how many bs press releases you put out.
| 2024-07-10 11:48:43

How? When? Where? And what parameters are used to determine or measure such reduction? Because the cost of a bag of rice in May is less than the cost of rice in June for example. The micro-reduction in fuel prices was yesterday. So where this reduction is taking place? Uncle Maada Bio, how do you feel when lying?
| 2024-07-10 10:30:01

How the inflation reduce ba?🤔 Wae people den dae buy commodities at an increase rate every passing day.
| 2024-07-10 10:18:51

Maada Bio is not the President of Sierra Leone. Addressing him this way is an insult to the people of Sierra Leone and that's completely unacceptable. He cannot prove to the world that he won the June 24th, 2023 Multi -Tier Elections. It is evidently clear that he has committed heinous crimes against the people he is meant to serve..... financial crimes, human right abused on a daily basis, harassment and improvement etc. Someday he will be dragged to a competent court of law to answer to all what he has done. People are dying of hunger and starvation and yet you portray a different picture of him? You're the real enemies of Sierra Leone.