egy paper, a key element of our fiscal risk mitigation
was considered by Cabinet, and request for an expanded analysis to cover the entire public sector is
underway.
3.3.5. The Treasury Single Account (TSA) was
adopted as a measure to unify and link accounts
through which the Government tracks all revenues and
payments to give a consolidated view of Government
cash position. The unified Government bank account is
geared towards facilitating better fiscal coordination
and reconciliation of fiscal information. Implementation of Treasury Single Account (TSA) is applied across
all Ministries, and selected Sub-vented Agencies.
When fully applied, it will improve government’s cash
management with the final aim of reducing the cost of
Government borrowings.
The Government of Sierra Leone encourages relevant line departments to strengthen and enhance their
capacity to ensure effective implementation of fiscal
planning processes in support of the broader development goals of the country. In particular, the mining
sector to be transparently managed for the benefit of
all Sierra Leoneans.
3.3.6 MDAs and Local Councils staff members
trained in budget preparation -In line with efforts to adhere to and strengthen the Medium-Term Expenditure Framework (MTEF) process, MDAs and Local
Councils have been trained in preparation of budgets
and deployed budget officers in key MDAs. The addition to several budget officers already deployed in key
MDAs, the recent recruitment of 30 Economists and 20
additional Budget Officers to be deployed in MDAs
in FY2017 will give impetus to planning, monitoring,
data collection and reporting across government.
3.3.7 The Government of Sierra Leone establishes the right balance between spending on
basic infrastructure and social services while
the Government of Sierra Leone’s current effort.
Despite high expenditures on infrastructure development, Government remained committed to provide
necessary funds on the social sector, especially in providing safety nets during and after Ebola. In order to
ameliorate the socio-economic impact of Ebola, Government implemented the following Social Safety Net
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Programmes:
• The Rapid Ebola Social Safety Nets Programme,
targeting about 9,000 Ebola-affected households
in Kailahun, Kenema, Bo, Tonkolili and Port Loko
districts and the Western Area Rural districts;
• Cash transfer to over 23,000 extremely poor and
vulnerable households under the regular
• The Conditional Cash Transfer scheme helped
12,000 youths in Moyamba, Bombali, Kono and
Western Area Rural Districts.
OBJECTIVE 2: Implementing sound, transparent and
predictable government economic policies
3.3.8. Supporting the private sector – Government’s determination to strengthen the private sector
saw the supporting of 1000 medium and small scale
enterprises to increase their competitiveness across key
value chains (H.E.s Speech to Parliament 2016). Government has also completed the digital re-registration
of 869 companies in the Corporate Affairs Commission Database, making them available on line. Action
has also been taken to improve access to commercial
justice including some decentralization case processing to increase access in the districts. These actions
are paying dividend as shown in the country’s Doing
Business Rating. Sierra Leone was 147 out of 189
countries in the 2015 rating in the Doing Business.
The country recorded key improvements in regulating reforms that make it easier to do business in the
country. Under the paying taxes indicator in 2015,
Sierra Leone made major reforms including the introduction of e-filing for goods and services tax; improvement of the domestic tax information system to include
a banking module, online application for a Tax Payer Identification Number (TIN) and the creation of a
Board of Appellate Commission for NRA and creating
a one-shop for starting business – the Corporate Affairs
Commission (CAC).
Additionally, in its quest to ensure access to finance
by private sector operatives, a policy on the securitisation of land was approved by Cabinet and the recommendations therein are being implemented. The policy
will allow private sector operatives to use land for
loans and other banking facilities.
In the transport sector, the containers terminal at the
Freetown port has been contracted to a private French
company Bollore for 20 years to improve efficiency of
container handling. It is expected that the Freetown
APRM Sierra Leone | Annual Progress Report