Africa-Press – Sierra-Leone. On Friday, 28th November 2025, during the Fiscal Year 2026 Budget presentation in the Well of Parliament, Minister of Finance Sheku Ahmed Fantamadi Bangura stated that Sierra Leone’s economic outlook is showing strong and promising signs of recovery.
The presentation attracted a high-profile audience, including Ministers, Heads of MDAs, Members of the Diplomatic and Consular Corps, Civil Society Organisations, the Media, and members of the public.
The theme guides this year’s Budget: “Enhancing Domestic Revenue Mobilisation for Sustained Economic Stability and Improved Service Delivery.”
Minister Bangura reported that the country’s economy is gaining momentum, supported by disciplined policy measures and improved local production.
Minister Bangura outlined key economic highlights: inflation dropped to 4.4%, the lowest in 20 years; projected real GDP growth is 4.4%, surpassing the Sub-Saharan Africa average; the trade deficit narrowed from US$429.9 million to US$262.3 million; domestic revenue is expected to reach NLe 17.9 billion in 2025; and, for the first time in years, the government recorded a domestic primary budget surplus, signaling stronger fiscal management.
These gains reflect a more stable macroeconomic environment and growing confidence in Sierra Leone’s economic direction, according to the minister.
The FY2026 Budget aims to build on current progress by increasing domestic revenue, strengthening public services, and supporting national development, boosting Revenue Mobilization to reduce reliance on external support, implement targeted tax measures, including restoring Corporate Income Tax to 30%, adjusting fuel excise duties, expanding the Minimum Alternate Tax, introducing annual vehicle and vessel levies, and improving GST compliance.
In Advancing Food Security Through the Feed Salone Project, Sierra Leone, the Minister stated that the country has made significant progress in food production, with rice self-sufficiency rising to 72%. Key achievements include the registration of 300,000 farmers, the distribution of improved seeds, 13 new rice mills, and the introduction of Weather Index Insurance for farmers. In 2026, the Government will plough 35,000 hectares of rice land and raise 3.4 million cocoa seedlings to boost exports and farmer income.
Minister Bangura further stated that, investing in Human Capital, the government continues to prioritise education and health as pillars of national development, and that education initiatives for 2026 include: Free school and exam fees, school feeding for hundreds of thousands of pupils, teaching and learning materials, electrification of 500 schools, etc.
He said Health priorities will include strengthening Free Health Care, expanding dialysis services, improving NEMS ambulance coverage, and completing the National Pharma Warehouse.
In Infrastructure, Energy, and Digital Access, the FY2026 Budget supports major investments in electricity, roads, water systems, and technology. This includes the Mission 300 Energy Compact, rural electrification, water expansion projects, improved township roads, and increasing broadband penetration to 60%. The government will also establish 16 digital learning hubs for youth.
Youth empowerment remains central to the Budget as the Government aims to create: 30,000 agriculture and agribusiness jobs, 25,000 short-term public works jobs, skills training in engineering, digital technologies, and trades, Support for youth-led aquaculture, farming, and SMEs, he noted.
The Minister emphasised that the FY2026 Budget is designed to safeguard economic stability while improving service delivery for all Sierra Leoneans. “The Government remains committed to protecting vulnerable groups, supporting businesses, and strengthening national development”, he added.
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