Sierra Leone’s Deputy Minister of Information and Communications, Solomon Jamiru Esq. has shed light on the current economic situation in the country and the efforts done by the government to engage the economy.
In a video shared on social media, he said that the majority of Sierra Leoneans are talking about the country’s economy and its economic situation and many are questioning the government’s effort in improving these challenges.
He said they may establish a few principles that will help everyone understand the economic challenges, adding that people put their hope in President’s bio and how he is trying to manage the economy.
“Our history suggests that at independence in 1961, our country was on a firm footing for economic growth and development. Imagine at independence in 1961 Leone was on the same footing with the British pound and even the US dollar, imagine that inflation was under control and we were having food self-sufficiency and we were even exporting due to that, we were in a position to generate a lot of foreign exchange. But over the years and especially from the mid 70scoming down our economy has been largely importing driven and that means unlike other countries that produce a lot, in Sierra Leone we are virtually importing everything. From toothpaste to paracetamol, from sugar to flower, from rice to fuel and that has largely explained the increase in commodity prices,” Jamiru said.
The minister further stated that one thing that Sierra Leoneans need to understand is that every country’s economy is connected to the global economy, noting that if the global economy is progressing at a higher speed then all individual economies will perform better.
He added that the coronavirus and the Russia-Ukraine war have also affected the global economy.
Revealing how the government has cope with the economic situation, he said, they had cash relief packages to businesses and individuals during the Covid 19, maintaining lives and livelihoods through programs like the quick action economic response program, the munafa fund, support the health sector, agreement with companies in the manufacturing sector, exporting of oil, support education, sustain development partnership, digital transformation program, food security set for his second term in office.
watch the video below: