He also advised on the injection of money into the system, which he said is a wrong practice, as the rate is skyrocketing and the rate of foreign investment in the country is low, according to available statistics, due to the increase of taxes.
The increase of taxes he added is good for revenue generation, but hinders the growth of the economy, he said.
“This coming Christmas will be one that the poor will remember for a long time in the history of the country. Government needs to look into serious issues in the private sector within the country,” he said.
He went on to state that the Kissy industry which will be one of the best refinery for palm oil and vegetable oil in Africa, is also facing a challenge of land disputes in the country; a factory with the potential of creating over thousands of empowerment and also large exportation that will help the country’s foreign exchange rate instead of injecting money into the system.
He further advised the government against IMF policies. Sierra Leone, he maintains, needs to stay away from IMF due to their outdated policies against third world countries. Sierra Leone’s free education programme he says may also affect the economy greatly.
“As an economist, I feel so many consultations and feasibility studies should have been undertaken, as that would have helped with details of the number of school facilities that are available and plans to put a proper strategy that can enable the process to go smoothly with a roadmap in the education sector,” the economist said.
