By Saidu Kargbo
Freetown, 19th January 2026- Sierra Leone’s Minister of Finance, Sheku Ahmed Fantamadi Bangura, has announced that the country’s economy is projected to stand at US$8 billion in 2026, underpinned by what he described as “strong fundamentals” in growth, inflation, and fiscal performance.
Speaking at a public lecture at Fourah Bay College’s Multipurpose Hall on January 15, 2025, Bangura outlined the government’s economic outlook and the framework for the 2026 budget. He emphasized that the economy is “heading in a positive direction,” citing stable inflation, improved fiscal discipline, and manageable debt levels.
Bangura reported that inflation has been contained at 4.5%, remaining in single digits and “anchored at sustainable levels.” He added that the local currency has remained stable, with only a 1% depreciation, while interest rates stand at 16%.
The minister highlighted that Sierra Leone has recorded a positive primary balance, meaning revenues exceed expenditures before debt servicing. “This shows fiscal consolidation and discipline in managing our budget from our own resources, even after paying debt service,” he said, noting that this performance laid the foundation for the 2026 budget.
Public debt currently stands at US$3.2 billion, comprising US$1.8 billion in external debt and NLe 32.3 billion (US$1.4 billion) in domestic debt. Bangura stressed that while debt remains significant, the government is intensifying efforts to mobilize domestic revenues through taxes and non-tax sources, alongside exploring innovative financing mechanisms.
Bangura assured that spending increases have been kept moderate, allowing resources to be directed toward the government’s Big-Five Agenda a policy framework focused on sustainable growth and economic transformation. “The agenda will be implemented with resources we have actually collected,” he said, underscoring the importance of revenue mobilisation.
The minister concluded by reaffirming the government’s commitment to stabilizing the economy and sustaining growth. He encouraged students and young professionals to take an interest in understanding economic dynamics, noting that they will inherit the responsibility of managing the country’s future.
The 2026 budget, he said, is designed to support sustainable growth, strengthen revenue mobilisation, and drive economic transformation.
