Policy Focus of the Government of Sierra Leone
The “New Direction Government” of the Republic of Sierra Leone has the following as its policy thrust for economic management:
- Improving the economy through sound economic policies and management with focus on the following priorities:
- (i) revenue mobilisation;
- (ii) public expenditure management;
- (iii) public debt management; and
- (iv) exchange rate management.
- Developing the Private Sector by
- (i) increasing access to finance;
- (ii) reducing the cost of doing business;
- (iii) promoting local entrepreneurship;
- (iv) capacity building; and
- (v) developing the infrastructure.
- Strengthening the financial sector through
- (i) capacitating the Bank of Sierra Leone;
- (ii) strengthening commercial banks;
- (iii) developing micro-finance institutions;
- (iv) re-establishing development bank and linking it with community banking; and
- (v) strengthening non-bank financial institutions.
- Developing the agricultural sector with priority actions focused on
- (i) increasing investment in agriculture;
- (ii) increasing food crop production;
- (iii) increasing cash crop production;
- (iv) increasing livestock production;
- (v) improving irrigation water management;
- (vi) improving land management; and
- (vii) improving governance and research.
- Improving the management of oil and gas exploration by developing and/or strengthening
- (i) oil and gas governance;
- (ii) petroleum fiscal regime; and
- (iii) capacity building.
- Improving management of marine resources through
- (i) good governance and sustainable management of the fisheries
- (ii) reduction of illegal fishing;
- (iii) improved handling of fish and fisheries products; and
- (iv) aquaculture development.
- Developing the tourism sector by
- (i) improving the policy and legal environment;
- (ii) developing historic sites;
- (iii) developing the infrastructure;
- (iv) promoting marketing and improving international image;
- (v) promoting skills development; and
- (vi) diversification of tourism products.
- Developing the manufacturing sector with a clear focus on
- (i) improving manufacturing infrastructure;
- (ii) improving the environment for manufacturing industrialization;
- (iii) establishing Special Economic Zones (SEZ) and Export Processing Zones (EPZ);
- (iv) providing finance to local entrepreneurs for manufacturing and industrialization;
- (v) technical skills development;
- (vi) and promoting manufacturing industries producing farm implements, school materials and medical supplies.
- Others areas of intervention are:
- (i) Improving education and skills training;
- (ii) Education financing and management;
- (iii) Health governance and financing, and management of human resources for health; and (iv) Empowering youth, women and the disadvantaged.