By Mackie M. Jalloh
The Sierra Leonean government, through the Ministry of Finance, has initiated the budget preparation process for the fiscal year 2025, setting the stage for a comprehensive review and allocation of resources aimed at furthering the country’s development objectives. This crucial exercise, which serves as the foundation for the government’s financial planning, will begin with a National Policy Hearing on Thursday, August 15th, 2024, at the New Brookfields Hotel in Freetown.
The National Policy Hearing marks the formal commencement of the budget process, providing a platform for key stakeholders to discuss and refine the strategic direction of the government’s spending plans. This year’s hearing is particularly significant as it will focus on aligning the budget with the government’s Big-Five development agenda and the National Development Plan, both of which are central to the administration’s vision for sustainable economic growth and social progress.
Following the policy hearing, the Ministry of Finance will engage in bilateral budget discussions with all Ministries, Departments, and Agencies (MDAs) from August 19th to 30th, 2024. These discussions are designed to ensure that each MDA’s budget proposals are not only aligned with the overarching national priorities but are also realistic and implementable within the available fiscal space. The Ministry of Finance has emphasized the importance of MDAs submitting detailed strategic plans and budget proposals that clearly support the government’s priorities, particularly those related to infrastructure, healthcare, education, and economic diversification.
The consultative nature of the budget preparation process is further underscored by the Ministry’s invitation to development partners, non-governmental organizations (NGOs), and civil society organizations to actively participate in the discussions. Their involvement is seen as crucial in ensuring that the budget reflects a broad spectrum of interests and that it benefits from the insights and expertise of various stakeholders. The Ministry of Finance is keen on fostering a collaborative environment where all voices are heard, and the resulting budget is one that effectively addresses the country’s most pressing needs.
As the government prepares to outline its spending plans for 2025, the budget is expected to play a pivotal role in driving the country’s development agenda forward. The focus will be on strategic investments that can catalyze economic growth, improve public services, and enhance the overall quality of life for Sierra Leoneans. By prioritizing key sectors and ensuring efficient allocation of resources, the government aims to make tangible progress toward its development goals.
The FY 2025 budget preparation process is not merely a technical exercise but a critical step in translating the government’s policy objectives into actionable financial commitments. It represents a key opportunity for the government to demonstrate its commitment to fiscal responsibility, transparency, and accountability in the management of public funds.
As the process unfolds, the Ministry of Finance is expected to provide regular updates on the progress of the budget discussions and the finalization of the budget document. The outcome of these deliberations will shape the country’s financial landscape for the coming year and lay the groundwork for achieving the ambitious targets set out in the National Development Plan and the Big-Five agenda.
