The Sierra Leone Quarterly Fiscal Report has indicated that the government’s expenditure reached SLe 4.5 billion (SLE4,515,898,000) in the second quarter ending June 30, 2023.

This report, curated by the Accountant General’s Department, provides detailed insights into the government’s financial operations.

Awoko reports that the reported amount covers the spectrum of operational costs, including financial charges associated with both local and international debt, arrears clearances, and debt repayment. Accountant General Richard S. Williams confirmed that the report’s figures were collated from genuine revenue and expenditure data related to the Consolidated Fund and central government.

A breakdown of the total operational costs reveals that:

  • Wages and salaries consumed SLE1,127,725,000.
  • Social security and benefits for employees were allocated SLE241,731,000.
  • Expenses excluding salary and interest came up to SLE901,856,000.
  • Current transfers were marked at SLE1,447,170,000.
  • Capital expenses and transfers, inclusive of foreign debt interest, summed up to SLE583,637,000. These figures solely reflect the Consolidated Funds.

The quarter also saw financial expenses arising from local interest (SLE597,198,000) and foreign interest (SLE28,187,000).

On the revenue side, external grants for this period summed up to SLE12,853,000, with domestic revenue generation by agencies recorded at SLE32,652,000. Cumulatively, project and sub-vented agency revenues amounted to SLE45,505,000.

Furthermore, the consolidated revenue accrued during Q2 2023 was SLE2,412,809,000, with SLE2,406,882,000 stemming from domestic sources and a grant of SLE5,927,000 donated by Development Partners.

The domestic revenue of Q2 2023 comprised:

  • Tax income, profits, and capital gains: SLE903,892,000 (38% of domestic revenue)
  • Customs and excise: SLE52,424,000 (2%)
  • Goods and Services Tax (GST): SLE457,673,000 (19%)
  • International Trade and Transport taxes: SLE336,000,000 (14%)
  • TSA revenue: SLE319,401 (13%)
  • Other taxes and non-tax revenue: SLE261,810 (11% of domestic revenue).