Vice President Dr Mohamed Juldeh Jalloh says Sierra Leone is preparing its FY2027 Budget at a time when import-dependent economies remain highly exposed to external shocks.
He was speaking at the Miatta Conference Centre in Freetown while formally opening the FY2027 Budget preparation process.
Dr Jalloh said recent years had demonstrated how quickly global events transmit into the domestic economy, citing the lingering effects of COVID-19, the Russia-Ukraine war, and continuing instability in the Middle East. He noted that such developments could quickly influence domestic prices, public finances and the cost of doing business in Sierra Leone.
“We cannot determine what happens in global commodity markets or geopolitical conflicts,” the Vice President said.
He said the appropriate response was to strengthen domestic fundamentals through stronger fiscal discipline, improved budget credibility, better revenue performance, prudent debt management and stronger implementation of Government programmes.
The Vice President stressed that national resilience must be felt at the household and enterprise level. According to him, resilience must ultimately be connected to households’ and businesses’ ability to withstand shocks and continue producing, investing, and creating jobs.
In that regard, the more reliableability in energy, improved infrastructure, stronger human capital, better access to finance and markets, and policies that encourage enterprise and investment.
On the Government’s employment agenda, Dr Jalloh said the 500,000-job target under the Youth Employment Scheme could not be achieved through public employment alone. He said private-sector growth was central to the strategy.
“Sustainable jobs at the scale our country requires will depend on a thriving private sector,” he said.
Dr Jalloh said development partners remained important to that effort, particularly as Government seeks to strengthen institutions, improve the investment climate and attract additional private capital.
He thanked the European Union, World Bank, International Monetary Fund, African Development Bank and other partners for their support and reaffirmed Government’s commitment to continued collaboration.
The Vice President’s emphasis on resilience, inclusive growth and private sector-led job creation aligns with current partner programmes. The World Bank’s ongoing programme in Sierra Leone focuses on strengthening resilience, fostering inclusive economic growth and creating opportunities for jobs and private investment. The European Union’s 2026 engagement has featured initiatives on youth empowerment, investment and the business environment, as Sierra Leone and the EU mark 50 years of partnership.
The launch of the FY2027 Budget process marks the start of nationwide consultations and sectoral planning that will shape Government revenue, expenditure and financing priorities for the next fiscal year.