Dr. Kaifala Marah, the Minister of Finance and Economic Development goes to Parliament on Friday 6th November, 2015 to present the 2016 Appropriation Bill, with the theme: Building a diversified economy and a resilient social sector.
The total 2016 budget which amounts to Le.3.94 trillion ($788,000,000) aims to twin the A4P with the SDGs.
This money will go to priority areas like education, health, agriculture, infrastructure and energy.
It is expected there will be no increase in salary for any category of workers but allowances for local government elected officials will be reviewed upwards.
“They [priority areas of the 2016 budget] are in line with the seven priority areas of the post Ebola recovery strategy,” an official with knowledge about the budget informed Awoko.
2016 is considered a period of recovery from both Ebola and the economic downturn as real Gross Domestic Product (GDP) is forecast to grow at 0.1% compared to a -25% growth in 2015. Real GDP includes iron ore production, the main driver of the growth forecast since 2011. Iron ore the mineral used to produce steel for the construction industry accounts for about half of the country’s GDP.
The International Monetary Fund (IMF) did a review of the economy in the third quarter of 2015 and projected growth to contract 21.5% this year. The -25% new growth projection for 2015 the minister will announce today shows the economy will plummet further before December 31.
Dr. Marah will comment on donor pledges towards the fight against Ebola and post-Ebola recovery. The Audit Service report on the use of Ebola funds earlier this year listed corruption related activities with the management of the funds. The Public Accounts Committee in Parliament chaired by the Deputy Speaker Hon. Chernor Bah proved some of these allegations were true.
“Only allowances for Councilors and Mayors/Chairpersons of Local Councils would be reviewed upwards,” the official stressed.
The 15% increase in salary for all government workers promised in the 2015 budget was implemented in July. The 2015 budget was Le.3.34 trillion.
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