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Following budget hearings with various ministries, departments, and agencies, Finance Minister Sheku Fantamadi Bangura has submitted a projected 2024 Budget of NLe23.5 billion (23.3% of GDP) to Parliament.
The budget carries a projected deficit of NLe8.6 billion excluding grants and NLe2.7 billion including grants.
The minister stated that the deficit will primarily be covered through borrowing, anticipated at NLe3.5 billion from the domestic banking system and NLe277.6 million from the Non-bank sector.
