By Sallieu S. Kanu
FREETOWN, October 1, 2026: The Ministry of Finance has unveiled an ambitious FY2027 agenda aimed at boosting domestic revenue, reducing public debt, strengthening fiscal governance and improving public financial management as part of efforts to sustain economic growth and enhance macroeconomic stability.
The priorities were presented during the ongoing Bilateral Budget Hearings, where representatives of District Budget Oversight Committees (DBOCs), Civil Society Organisations (CSOs) and Non-State Actors (NSAs) scrutinised the Ministry’s budget proposals and assessed their alignment with Sierra Leone’s development objectives.
Opening the session, Director of Budget Tasima Jah said the hearing provided stakeholders with an opportunity to examine the Ministry’s plans and ensure transparency and accountability in the use of public resources.
Deputy Minister of Finance I, Kadiatu Allie, encouraged participants to actively engage in the review process, noting that the Ministry, having scrutinised the budgets of other institutions, was now presenting its own budget for public assessment.
Financial Secretary Matthew Dingie highlighted the importance of the budget engagement process, describing it as a key mechanism for promoting transparency and public understanding of how government resources are allocated and managed.
He said Sierra Leone’s economy continues to record annual growth of between three and four percent, while government efforts remain focused on supporting industrial activity, maintaining stable inflation and strengthening investor confidence through exchange-rate stability.
Dingie also pointed to global challenges, including geopolitical tensions in the Middle East, petroleum price pressures and fluctuating international interest rates, noting that government continues to cushion their impact through social protection measures, energy-sector support and revenue mobilisation initiatives.
Presenting the Ministry’s FY2027 plans, Acting Director of Research and Delivery Alhaji Abu Komeh outlined a range of strategic objectives, including increasing domestic revenue, improving debt management, strengthening fiscal decentralisation, enhancing public expenditure controls and improving macroeconomic policy coordination.
The Ministry reported that its approved 2025 budget stood at NLe164.1 million, while actual expenditure reached NLe164.2 million. For 2026, an approved budget of NLe269.3 million was allocated, with spending reaching NLe188.5 million by the end of September.
Among the Ministry’s flagship targets for FY2027 is increasing domestic revenue from 10.7 percent of GDP, equivalent to NLe18 billion in 2025, to 12.3 percent of GDP, or NLe25.99 billion, by 2027.
The Ministry also aims to reduce Sierra Leone’s debt-to-GDP ratio from 49.3 percent in 2025 to 43.5 percent by 2027, while lowering the overall fiscal deficit, including grants, from 4.4 percent of GDP to below 3 percent within the same period.
Other priority initiatives include operationalising the National Electronic Single Window, replacing the ASYCUDA customs system, strengthening oversight of state-owned enterprises and public projects, improving disbursement rates for development projects, positioning Sierra Leone to access climate finance and advancing public financial management reforms.
The Ministry further plans to enact a revised Public Financial Management Act, strengthen fiscal decentralisation and publish regular reports on the implementation of audit recommendations.
For FY2027, the Ministry is seeking a budget allocation of NLe232.69 million, which aligns with its approved budget ceiling.
At the conclusion of the presentation, officials responded to questions and concerns raised by stakeholders, providing further clarification on the Ministry’s expenditure plans, strategic priorities and proposed reforms.
The Ministry said the FY2027 budget is designed to strengthen fiscal discipline, improve revenue generation and support the government’s broader economic transformation agenda.