2024-11-10-世界银行-塞拉利昂经济最新消息_释放塞拉利昂电力部门的潜力_打破危机循环（英）_46页_3mb

Sierra Leone Economic Update Summary

Overview

• Sierra Leone's economy grew 5.7% in 2023, driven by the iron ore sector, but faces high inflation (25.5% in August 2024), debt distress, and limited domestic revenue (7.4% of GDP).
• The power sector remains a major fiscal risk, with EDSA losing 72% of its revenue due to high technical and commercial losses, insufficient billing, and reliance on expensive HFO-based power imports.

Recent Economic Developments

• Growth slowed in 2024 to 4.3%, supported by fiscal consolidation, improved iron ore prices, and agricultural gains.
• Public debt (46.2% of GDP) is declining, but debt service pressures and high external financing needs remain concerns.
• Inflation moderated due to lower global commodity prices and a weaker Leone, but remains a key risk.

Power Sector Challenges

• Access to electricity is low (36% nationally), with significant disparities between urban and rural areas, limiting growth and household welfare.
• EDSA faces chronic losses ($57M in 2023), accumulated arrears ($75.7M), and inefficiencies like high transmission losses (60%) and poor collections.
• Reliance on HFO-based power is cost-prohibitive, with tariffs at $0.22/kWh (below cost recovery).

Proposed Solutions

• Action Plan 2030 with three pillars:
  1. Green Energy Transition: Shift from HFO-based generation to renewable sources (solar, gas imports), targeting $1.18B savings by 2030.
  2. EDSA Performance Improvement: Enhance billing, collections, anti-theft measures, and infrastructure investments.
  3. Policy & Regulatory Reforms: Establish a clear tariff framework, competitive procurement, and attract private sector investments.
• Key actions include installing smart meters, clearing arrears, improving corporate governance at EDSA, and facilitating power imports.

Impact & Outcomes

• By 2030, EDSA could achieve financial sustainability, with reduced fiscal subsidies (to 0.2% of GDP) and $100% electricity access.
• Successful implementation could save the government $640M by 2030, reduce dependency on HFO, attract private investment, and boost economic growth.

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Sierra Leone Economic Update • October 2024