SIERRA LEONE HOES FOR ECONOMIC BOUNCE POST-EBOLA

SIERRA LEONE HOES FOR ECONOMIC BOUNCE POST-EBOLA

Sierra Leone might see a growth rebound of double digits over the next 3-5 years as it continues to recover from the Ebola crisis, it’s foreign minister said adding that plans are underway to tap into the Diaspora so as to raise funds which will be used for development purposes.

The recent year-long outbreak of the Ebola virus ravaged the economy of the West African country. Sierra Leone’s mining and agricultural sector were both decimated due to the outbreak which spread across Guinea, Liberia and Sierra Leone killed more than 9,000 people. Also affected was the country’s local and international transport that was grounded to a halt.

"At the moment because of Ebola, we are back in the single digits, but we will get back up again ... we will get back into the double digits," said Samura Kamara who is Sierra Leone’s Foreign Minister during an investor meeting in London.

Before the Ebola outbreak last year, the country was expected to grow its gross domestic product (GDP)by 11.5% but after the outbreak many see the figure reducing to 4% with the World Bank predicting that the GDP for 2015 will be at 2%.

Sierra Leone’s recent growth before the outbreak was driven by the country’s mining sector which makes up 16% of the country’s total GD on a yearly basis. The country took a double hit from the outbreak of Ebola and the drop in commodity prices.

Looking ahead Sierra Leone’s foreign minister, Samura Kamara said that growth in the Western African country will fueled by small business as well as its farming returning to normal as the country has the trade and travel restrictions being lifted.
 

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