Honourable Vice President Dr. Mohamed Juldeh Jalloh on Friday 6th October, 2023 launched the Policy Hearings for FY2024 National Budget preparation process at the Brookfields Hotel in Freetown. The Policy Hearings are the curtain raiser for the commencement of the National Budget preparation process.

Speaking at the programme, Vice President Dr. Mohamed Juldeh Jalloh praised the Minister of Finance, Sheku Ahmed Fantamadi Bangura, and his team for orienting the FY2024 National Budget to focus on consolidating the gains of His Excellency President Brig. (Rtd) Julius Maada Bio's Human Capital Development programme on education, health, energy, infrastructure amongst others.

The Vice President called on the Ministry of Finance to pay specific attention to key sectors like health, education and agriculture which, according to him, hold promise for job creation, economic growth and food self-sufficiency.

The Vice President therefore urged the Finance Ministry to find innovative ways to increase revenue and manage public expenditure, noting that such initiatives should include a review of the tax regime to improve the investment environment, engage and support the private sector, and to work out a pricing formulae to stabilize commodity prices, particularly rice, onions and flour

. The Minister of Finance, Sheku Ahmed Fantamadi Bangura, disclosed that the focus of this year’s budget discussions would be on domestic revenue mobilization efforts by Ministries, Departments and Agencies (MDAs) to finance their budget proposals, including other innovative sources of finance for the State. According to the Finance Minister, the National Budget is the only tool at which the resources of the State will be distributed equitably among MDAs.

He said the FY2024 National Budget will also focus on consolidating all ongoing Human Capital Development programmes including education, health, energy, infrastructure amongst other.

Mr. Bangura therefore called on MDAs to focus on innovative ways of mobilizing revenue in their respective budget presentations to support the ‘Big Five Changers’ agenda of government.

He promised to improve on timely budget execution of approved budget allocation to MDAs to aid the delivery of services to the citizens.

The Finance Minister also assured that he would continue supporting all Free Quality School Education programme interventions and the flagship programme of government in agriculture - Feed Salone.

Mr. Bangura further promised to establish a Special Guaranty Scheme at the Bank of Sierra Leone (BSL) to support private sector interventions in agriculture.