Chief Minister Dr. David Moinina Sengeh has emphasized the significance of the newly presented Supplementary Budget, describing it as a strategic tool for “Fiscal Consolidation and Budget Credibility to Sustain Macroeconomic Stability” amid ongoing global and domestic economic challenges.

His statement followed the official presentation of the Supplementary Government Budget and Statement of Economic and Financial Policies by the Minister of Finance in the Chamber of Parliament earlier today. The presentation outlines the government’s continued commitment to maintaining macroeconomic stability and driving inclusive development.

According to Dr. Sengeh, Sierra Leone’s macroeconomic performance has shown remarkable improvement. “We have reduced inflation from above 50% to single digit in about 18 months,” he noted, adding that key indicators such as export growth, stable foreign exchange rates, and increased manufacturing activity underscore the resilience of the economy. He also pointed out a significant drop in Treasury Bill and commercial bank interest rates, signaling growing investor confidence.

The Chief Minister credited these gains to the leadership of President Julius Maada Bio, who chairs the Economic Management Team and has taken an active role in shaping the nation’s fiscal trajectory.

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“President Bio understands what it takes to turn a nation around,” Sengeh stated. “He continues to invest in infrastructure that unlocks economic opportunities while placing strong emphasis on human capital saving the lives of mothers, ensuring more girls attend school, and equipping youth with the skills needed for meaningful employment.”