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Essay from the year 2021 in the subject Business economics - Economic Policy, , language: English, abstract: This comprehensive paper delves into Sierra Leone's resolute pursuit of fiscal sustainability and long-term economic prosperity, focusing on the instrumental role of strategic public investments in vital sectors such as education, healthcare, and infrastructure. The study sets out to explore Sierra Leone's multifaceted journey, emphasizing the importance of responsible fiscal management and prudent investment policies to secure a brighter future for its citizens.
Within this ambitious pursuit of fiscal sustainability, the study sheds light on the multifaceted challenges faced by Sierra Leone in navigating the complex landscape of public investments. These challenges encompass historical legacies of conflict and instability, capacity constraints in government institutions, and external economic factors, all of which necessitate a comprehensive approach for effective resolution. At the heart of this journey lies the imperative of fiscal sustainability, underscoring the critical role of responsible financial management and prudent fiscal policies in safeguarding the nation's long-term economic stability and development.
The paper also delves into Sierra Leone's Public Investment Management Strategy (PIMS), a foundational framework designed to ensure the efficient allocation of public funds for investment purposes. This comprehensive strategy not only optimizes resource allocation but also promotes transparency, efficiency, and accountability in Sierra Leone's financial management. It empowers the government to align public investments with the nation's broader development goals, bolstering economic growth, reducing poverty, and improving essential public services.
To construct this narrative, a qualitative research approach was employed. Qualitative data emerged from a comprehensive literature review, policy document analysis, and interviews with key stakeholders.
