Inflation rise up to 54%
By Musa Paul Feika
The opposition Member of Parliament representing Tonkolili District Hon. Aaron Koroma has said under the ruling party led by President Bio inflation has rose up to 54% although it has to around 22% the price of commodities is still skyrocketed.
Hon. Aaron Koroma maintained that the fact that even though Sierra Leone’s economy was declared austerity during the previous administration, the economy was doing better than now, saying they were proud of leaving the country under austerity, but six year down the line Sierra Leoneans are suffering more than ever.
Comparing the price of a cup of rice in 2018, and currently, he pointed out that during previous administration inflation was around 15.3% but under the current government it has rose up to 54%.
The lawmaker further compared the current and previous saying whilst his party was in governance the exchange rate of $100 was around Nle7,75 but now it is around two thousand, four hundred Leones Nle2,400, stressing “during austerity our economy was doing better”.
The 2023 budget, the lawmaker said the Gross Domestic Production (GDP) was at around 12.1%, but the 2025 national budget, the Ministry of Finance only budgeted around 9.8% .
The opposition MP however lauded the Minister of Finance for being honest to the people of Sierra Leone as he has demonstrated a true sincerity.
“I also want to commend him for the proposal to restore the social van for the poor electricity tariff as advocated for many times,” Hon. Aaron stated.
Hon. Aaron Koroma said many countries have re-based their economy something which he has alluded to have lots of advantages.
“The suffering remains the same, the prices keep skyrocketing” he added.
He added that during the COVID-19 pandemic the people of the country were lucky because there was something good to write home about, but the current reserve has been depleted.
Speaking on the minimum wage Hon, Aaron said the current minimum wage cannot stand the test of time as it cannot buy a bag of rice. He suggestion to the House for the amendment of the 2014 minimum wage Act to salvage the suffering of the masses.
He opined that the free healthcare in dying slowly and is no longer serving the people of Sierra Leone and some of the nurses are exploiting citizens.
Hon. Aaron Aruna Koroma made the comparative analysis on Wednesday 27th November, 2024 in the Well of Parliament while debating on FY2025 national budget
