By Josephine W. Lagowo
FREETOWN, June 27 (SALONE TIMES) – Minister of Finance Denis Vandy has said that in six months, the Government of Sierra Leone has subsidized Le 360 billion on fuel.
Vandy made this statement last Friday 24th June while presenting the supplementary Appropriation Act 2022 to members of Parliament at the well of Parliament, Tower Hill in Freetown.
He went on to say that the Bank of Sierra Leone in April also came up with two strategies which they have used to put aside US$ 50M for essential commodities such as Oil, Flour another essential products and another US$ 50 M for fuel.
He stated that the ministry has allocated Le 415 bn to the ministry of energy for additional electricity supply.
According to him, because of the Covid 19 the economy has not been doing well and that the growth and percentage is 2.9%, pointing out that, after he presented that budget in February, the Ukraine and Russian war broke out and undermined the revenue projection.
That as a result of that government engaged development partners such as World Bank, IMF, and ADB for additional funds.
Vandy pointed out that the reasons for the supplementary budget are to strengthening micro-economic stability and to support energy.
He stated that the World Bank has allocated US$ 12M for school feeding Programme to support fifteen districts on the Free Quality Education and other US$ 21M to support farmers, revealing that government has set aside US$ 30M and US$ 26M will be disbursed to business enterprises.
He stated that the revised supplementary budget is 1.4 trillion to 1.13 trillion, assuring members of parliament that his ministry will release quarterly budget on time.
Chairman of Finance Committee Hon Francis Amara Kaisamba in his contribution said for supplementary budget, funding must available to address the emerging issues.
Hon Salieu Osman Sesay of Constituency 038 Bombali district said when he listened to the minister, he sensed that this government cannot provide the bread and butter for the people of this nation.
“It is not joke that our economy is in shambles. Government is bringing budget to parliament to add more debt to the country,” Hon Sesay affirmed.
The Leader of opposition Hon Chernor Bah stated that he knew that the economy is challenging and that is the reason the minister has come with the supplementary budget to parliament.
“We cannot play politics on the budget,” he stated.
The Leader of Government Business Hon Mathew Nyuma said looking at the globally trend, they have been faced with difficulties and that Sierra Leone is not a manufacturing country.
The Minister responded that this particular budget is funded by donors.
