Since the onset of COVID-19, the Federation of the Urban and Rural Poor (FEDURP) and the Centre of Dialogue on Human Settlement and Poverty Alleviation (CODOHSAPA) have taken action to curb its spread. The COVID-19 pandemic has adversely impacted economic activity, with economic growth rate projected to shrink by -3.1 percent in 2020 compared to the pre-COVID-19 projection of 4.1 percent growth. While the unemployment rate remained at 4.3 percent in 2020, the job market remains fragile. According to World Bank development indicators, the lending interest rate in Sierra Leone was reported to be 17.92 percent in 2019. Government gross debt culminated at 65.4 percent of GDP. The overall inflation rate was recorded at 15.47 percent in May 2020. Its gross domestic product (GDP) is valued at Le42 993 116.254 (US$4.4 billion) with a GDP per capita estimated at Le5 442 538 (US$557). The macroeconomy is mainly dependent on diamond production and has been unstable over the last few years. Sierra Leone has a fragile economy still recovering from a decade of civil war. Freetown needs 280 000 housing units, or 19 000 houses a year by 2028. Migration from rural to urban cities also puts pressure on authorities to address the housing crisis in the country. These are major challenges to preventive measures against the spread of COVID-19, as physical distancing and restrained movement may be difficult to practice in informal settlements. The capital city of Freetown has one of the highest population densities in the world with 8 450 people per km 2, and a high proportion of informal settlements accounting for 35 percent of the city’s inhabitants. The urban population growth rate is 42.1 percent associated with a population density of 106 inhabitants per km 2. The Republic of Sierra Leone has a total population estimated at 7 650 154 in 2020. Availability of data on housing finance.Furthermore, 24% of houses in Freetown are of zinc construction, 13% are made of mud and 30,000 households depend on unsafe drinking water sources.įind out more information on the housing finance sector of Sierra Leone, including key stakeholders, important policies and housing affordability: Real GDP per capita is projected to recover some of its losses but is expected to remain below 2019 levels for the next two to three years. Inflation was estimated to pick up to 17% in 2020 from 14.8% in 2019. Weak external demand for major exports, particularly diamonds, and declines in the mining, transport, trade, and tourism sectors have led to real gross domestic product (GDP) being estimated to contract by 2.7% in 2020 after growing by 5.4% in 2019. The economy of Sierra Leone is dependent on diamond production, which has been unstable over the last few years and has recently been further impacted by COVID-19. In addition, service provision is poor and housing inadequate, with 94% of the homes in Freetown having no flush toilets and 66.6% of the population living in one or two rooms only. Migration from rural to urban centres has placed pressure on authorities to address the housing crisis, with Freetown estimated to need an additional 280 000 housing units, or 19 000 additional houses a year, by 2028. The capital and largest city are Freetown, which is also the country’s major urban and economic centre and houses the seat of Government of Sierra Leone. In 2020 the country had an estimated total population of 7 976 985, and an estimated urban population of 3 423 961 (43% of the population), with an urbanisation rate of 3.1%. The Republic of Sierra Leone (Sierra Leone) is located on the southwest coast of West Africa and is bordered by Liberia to the southeast and Guinea to the northeast. Iron money implements sierra leone pdf#To download a pdf version of the full 2021 Sierra Leone country profile, click here. This profile is also available in French here.
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