Sierra Leone’s total domestic revenue is projected to rise to NLe 22.2 billion by 2026, accounting for 11.8 percent of the country’s Gross Domestic Product (GDP), according to Finance Minister Sheku Ahmed Fantamadi Bangura.

The development notably marks a significant increase from an estimated NLe 17.9 billion, or 10.8 percent of GDP, in 2025.

Minister Bangura made this announcement while presenting the government’s 2026 budget and its economic and financial policies to the House of Parliament on Friday, November 28, 2025.

The presentation was delivered under the theme: “Enhancing Domestic Revenue Mobilisation for Sustained Economic Stability and Improved Service Delivery.”

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The Finance Minister outlined several key areas of projected revenue sources. Income taxes are expected to generate NLe 8.3 billion, with Goods and Services Tax (GST) estimated at NLe 3.9 billion.

Customs and Excise duties are forecast to contribute NLe 5.5 billion, while mineral revenues are projected at NLe 1.3 billion. The Treasury Single Account (TSA) is expected to generate NLe 1.6 billion, and road user charges and vehicle licenses will account for NLe 671.2 million.

External grants from development partners are also anticipated to reach NLe 3.8 billion, representing two percent of GDP. Of this, NLe 1.8 billion is expected from external budgetary support from the World Bank, the European Union, and the African Development Bank, while project grants are forecast at NLe 2.0 billion.

The total revenue and grants for 2026 are projected to amount to NLe 25.9 billion, representing 13.8 percent of GDP. The minister emphasized that the government’s budget strategy for 2026 aims to enhance domestic revenue mobilization through tax measures that are pro-poor and pro-business, and to explore innovative sources of revenue alongside traditional ones.

Bangura stressed the government’s commitment to prudent fiscal management, noting that there will be a focus on consolidating public finances and maintaining macroeconomic stability. This includes managing inflation to remain in the single-digit range, stabilizing the exchange rate, and addressing national debt vulnerabilities. The Finance Minister further emphasized the importance of improving the business environment and the general well-being of citizens.

As part of the budget’s overarching objectives, the government confirmed continued support to the Feed Salone Initiative, which seeks to boost food production, improve food security, create jobs, and raise the incomes of rural households. Investment in human capital development is also poised to remain a priority to ensure a skilled and healthy workforce.

The budget also outlines major investments in infrastructure, including roads, energy, water supply, and technology, aimed at improving the business climate and attracting investments. In addition, efforts to streamline public sector operations and strengthen governance institutions are central to the government’s economic strategy.

The 2026 budget proposal has been submitted to the House of Parliament for review. Members of Parliament are tasked with evaluating the revenue and expenditure proposals to ensure alignment with national priorities. Parliament is obligated to approve, disapprove, or amend the budget before passing it into law through the Finance Act or the Appropriation Act.

Speaker of Parliament, Honourable Segepoh Thomas, urged all Ministries, Departments, and Agencies (MDAs) to attend the upcoming debate on the budget scheduled for December 3, 2025. He warned that MDAs failing to send a senior representative would face budget cuts, stating, “Don’t say I did not warn you. If you do not send a representative – Very senior representative.”