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Sierra Leone’s Finance Minister, Sheku Fantamady Bangura, has revealed that the government generates an average of US$2.5 million daily through domestic revenue mobilisation, underscoring the country’s ongoing efforts to strengthen its fiscal position.
Speaking during an interview on AYV Television, Bangura explained that the revenue collected is largely directed toward meeting critical government obligations, particularly public sector wage payments and debt servicing.
He disclosed that monthly salary payments amount to approximately US$25 million, making it one of the most significant components of government expenditure. According to the minister, ensuring timely payment of wages remains a top priority for the government.
In addition to salaries, Sierra Leone spends about US$15 million each month on servicing its debt. Bangura noted that domestic debt accounts for the larger share of this burden, presenting a more pressing challenge compared to external debt, which he described as relatively manageable.
The minister said the remainder of the revenue is used to fund government operations and deliver essential public services across the country.
Bangura also highlighted ongoing efforts to improve revenue performance, noting that a well-functioning economy typically achieves revenue collection levels of between 15 and 16 percent of Gross Domestic Product.
He stated that Sierra Leone is currently targeting 11.8 percent of GDP in revenue collection for the year.
He added that under the government’s Medium-Term Revenue Strategy, authorities aim to gradually increase domestic revenue mobilisation in order to meet long-term fiscal targets by 2027.
The finance minister emphasised that sustained fiscal reforms will be essential in strengthening economic stability and supporting Sierra Leone’s broader development agenda.
