Freetown, 20th October 2025- Sierra Leone’s fiscal performance for the first half of 2025 shows notable growth in revenue and grants, but also a shortfall against budgeted expectations. According to figures from the Budget Bureau and the National Revenue Authority (NRA), total revenue and grants reached NLe11.12 billion between January and June 2025, representing 5.8% of GDP. While this marks a year-on-year increase from FY2024 actuals, it falls short of the NLe12.98 billion budgeted for the same period, 6.7% of GDP.
The breakdown reveals that domestic revenue was projected at NLe9.55 billion (4.9% of GDP), while grants, primarily project-based, were expected to contribute NLe3.43 billion (1.8% of GDP). Actuals show domestic revenue climbing to NLe9.02 billion, and project grants rising to NLe2.10 billion, as visualized in the comparative bar chart titled “Figure 2: Total Revenue and Grant for First Half.”
The uptick in revenue comes amid persistent global economic uncertainty, sluggish domestic activity, and supply chain disruptions. Analysts attribute the gains to enhanced administrative and policy measures, particularly in domestic revenue mobilization and improved disbursement of project funds from development partners.
Compared to FY2024, when total revenue and grants stood at NLe8.80 billion, the FY2025 actuals reflect a 26% increase, signaling stronger fiscal effort despite external constraints.
While the revenue growth is encouraging, the shortfall against budgeted targets raises concerns about forecasting accuracy and the pace of grant disbursement. The government’s ability to close this gap will depend on sustained reforms, improved donor coordination, and continued investment in tax administration systems.
As Sierra Leone navigates a tightening fiscal landscape, the first-half performance underscores both progress and pressure, highlighting the need for agile policy responses and robust revenue strategies to meet development goals without deepening debt exposure.
