By mohamedj.bah@awokonewspaper.sl
Freetown, SIERRA LEONE – Sierra Leone’s Vice President, Dr. Mohamed Juldeh Jalloh, has revealed that the country ranks among the highest subsidizing nations globally. This disclosure came during the launch of the Human Development Report, spearheaded by the United Nations Development Programme (UNDP).
VP Jalloh emphasized that Sierra Leone’s extensive subsidization across various sectors, while well-intentioned, poses challenges to the country’s economic growth.
“We are heavily subsidizing many aspects, such as electricity, which should not fall under social infrastructure but rather economic infrastructure,” he remarked.
Highlighting the discrepancy in energy tariffs, VP Jalloh explained, “While we subsidize electricity by 4 to 6 cents for social tariffs and 2 to 4 cents for commercial tariffs, the actual cost is significantly higher.”
He raised concerns about the disproportionate allocation of resources, emphasizing the need to prioritize essential sectors like healthcare and education over excessive subsidies.
“We must reevaluate our expenditure on energy when critical areas like health and education demand greater attention,” VP Jalloh asserted. “Our focus should be on investment in sectors that contribute to job creation and sustainable revenue generation.”
Dr. Jalloh also addressed the pervasive political culture of redistribution, noting its impact on national development.
“We subsidize everything, including the data used to criticize the government,” he stated, underlining the importance of redirecting resources towards initiatives that foster economic development and social progress.
In conclusion, VP Jalloh emphasized the imperative of prudent fiscal management and strategic investment to ensure sustainable growth and prosperity for all citizens of Sierra Leone. MJB/25/3/2024