{"id":24967,"date":"2023-11-18T16:47:49","date_gmt":"2023-11-18T16:47:49","guid":{"rendered":"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/sierra-leones-finance-minister-outlines-risks-to-2024-budget-implementation"},"modified":"2023-11-18T17:34:54","modified_gmt":"2023-11-18T17:34:54","slug":"sierra-leones-finance-minister-outlines-risks-to-2024-budget-implementation","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/sierra-leones-finance-minister-outlines-risks-to-2024-budget-implementation","title":{"rendered":"Sierra Leone\u2019s Finance Minister Outlines Risks to 2024 Budget Implementation"},"content":{"rendered":"

Africa-Press – Sierra-Leone. <\/strong><\/span>Sierra Leone\u2019s Finance Minister, Ahmad Fantamadi Bangura, has presented the government\u2019s budget and financial policies for the financial year 2024, projecting resilient growth but also highlighting several factors that could derail the budget\u2019s implementation and hinder the achievement of its objectives.<\/p>\n

<\/a>In his presentation to the Chamber of Parliament, Bangura outlined the following potential risks to the 2024 budget:<\/p>\n

Continued Geopolitical Tensions: The ongoing Russia-Ukraine war and the Palestine-Israel conflict could exacerbate global economic uncertainties and disrupt trade flows, negatively impacting Sierra Leone\u2019s economy.Rising Global Food and Energy Prices: The persistent increase in global food and energy prices could translate into higher domestic prices, putting upward pressure on inflation and eroding household purchasing power.<\/p>\n

Exchange Rate Depreciation: A continued depreciation of the exchange rate could increase the cost of imported goods and services, further fueling inflation and straining the budget.<\/p>\n

Weak Global Economic Recovery: A sluggish global economic recovery could lead to reduced overseas development assistance and foreign direct investment inflows, limiting Sierra Leone\u2019s access to critical financing sources.<\/p>\n

Revenue Shortfalls: Delays or partial implementation of the Medium-Term Revenue Strategy could result in revenue shortfalls, hampering the government\u2019s ability to fund its development priorities.<\/p>\n

Non-Compliance by Ministries, Departments, and Agencies (MDAs): MDAs\u2019 failure to adhere to budget limits and persistent requests for extra-budgetary expenditures, including salary increases, could strain the budget and divert resources from essential programs.<\/p>\n

Weak Financial Performance of State-Owned Enterprises (SoEs): The poor financial performance and contingent liabilities of SoEs pose significant risks to the budget, potentially requiring government bailouts that could strain public finances.<\/p>\n

Despite these challenges, Bangura expressed optimism about Sierra Leone\u2019s economic prospects, emphasizing the government\u2019s commitment to implementing prudent fiscal policies, fostering a conducive environment for private sector growth, and strengthening social protection programs to mitigate the impact of external shocks.<\/p>\n

For More News And Analysis About Sierra-Leone<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Sierra-Leone. Sierra Leone\u2019s Finance Minister, Ahmad Fantamadi Bangura, has presented the government\u2019s budget and financial policies for the financial year 2024, projecting resilient growth but also highlighting several factors that could derail the budget\u2019s implementation and hinder the achievement of its objectives. In his presentation to the Chamber of Parliament, Bangura outlined the […]<\/p>\n","protected":false},"author":84,"featured_media":24965,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[291,293,292],"class_list":["post-24967","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-sierra-leone","tag-sierra-leone"],"yoast_head":"\nSierra Leone\u2019s Finance Minister Outlines Risks to 2024 Budget Implementation - Sierra Leone<\/title>\n<meta name=\"description\" content=\"Sierra Leone\u2019s Finance Minister, Ahmad Fantamadi Bangura, has presented the government\u2019s budget and financial policies f ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/sierra-leones-finance-minister-outlines-risks-to-2024-budget-implementation\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sierra Leone\u2019s Finance Minister Outlines Risks to 2024 Budget Implementation\" \/>\n<meta property=\"og:description\" content=\"Sierra Leone\u2019s Finance Minister, Ahmad Fantamadi Bangura, has presented the government\u2019s budget and financial policies f ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/sierra-leones-finance-minister-outlines-risks-to-2024-budget-implementation\" \/>\n<meta property=\"og:site_name\" content=\"Sierra Leone\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-18T16:47:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-18T17:34:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/sierra-leone\/sites\/16\/2023\/11\/sm_1700316214.053805.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"601\" \/>\n\t<meta property=\"og:image:height\" content=\"332\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/sierra-leones-finance-minister-outlines-risks-to-2024-budget-implementation#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/sierra-leones-finance-minister-outlines-risks-to-2024-budget-implementation\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Sierra Leone\u2019s Finance Minister Outlines Risks to 2024 Budget Implementation\",\"datePublished\":\"2023-11-18T16:47:49+00:00\",\"dateModified\":\"2023-11-18T17:34:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/sierra-leones-finance-minister-outlines-risks-to-2024-budget-implementation\"},\"wordCount\":327,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/sierra-leones-finance-minister-outlines-risks-to-2024-budget-implementation#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/sierra-leone\/sites\/16\/2023\/11\/sm_1700316214.053805.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Sierra-Leone\",\"Sierra-Leone\"],\"articleSection\":[\"all news\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/sierra-leones-finance-minister-outlines-risks-to-2024-budget-implementation#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/sierra-leones-finance-minister-outlines-risks-to-2024-budget-implementation\",\"url\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/sierra-leones-finance-minister-outlines-risks-to-2024-budget-implementation\",\"name\":\"Sierra Leone\u2019s Finance Minister Outlines Risks to 2024 Budget Implementation - 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