Africa-Press – Sierra-Leone. The Government’s expenditure on overseas travel has soared, causing alarm among the public amidst heightened tax rates in Sierra Leone, as per the recent Annual Financial Statement. The surge in spending, notably led by President Julius Maada Bio, has continued unabated into his second term, prompting concerns over the country’s financial management.
The Finance Acts of 2023 and 2024 have enforced higher taxes on essential goods, while Government spending on travel has spiked significantly. Reports indicate that in 2022, the Bio administration expended a staggering Le87 billion on overseas travel, marking a 20% surge from the Le24.71 billion spent the previous year.
In contrast, the figures from 2020 and 2019 reveal a shift. In 2020, the Government’s expenditure on overseas travel was Le27.48 billion, down from Le40.43 billion in 2019. These numbers are worrisome against the backdrop of global inflation, as citizens navigate increased financial burdens. Yet, there seems to be no slowdown in Government spending, particularly on travel.
During a recent address to Parliament on the Budget, Finance Minister, Ahmed Fantamadi Bangura, expressed apprehension over the escalating Government expenditure. He stressed the urgent need for a balanced approach between revenue generation and managing expenses to reduce the budget deficit and minimize Government borrowing from the banking sector.
Bangura emphasized that enhancing fiscal discipline could create room for increased spending on Governmental priorities. Achieving this equilibrium, he highlighted, requires concerted efforts to boost domestic revenue and prudently control Government expenses.
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