Finance Minister Sheku Ahmed Fantamdi Bangura last Friday announced the government’s fiscal framework for the 2026 financial year (FY2026), stating that revenue and grants is projected at NLe 25.9 billion while expenditure is set at NLe 30 billion, leaving a deficit of NLe4.1 billion.
He told the nation’s parliament that the government will intensify domestic revenue mobilisation following declining international aid, adding that stronger domestic revenue is now essential to fund the country’s priority programmes.
The minister said domestic revenue is projected to rise to NLe 22.2 billion in 2026, up from an estimated NLe 17.9 billion this year. He said the increase is necessary to close the country’s growing funding gap and keep the national development plan on track.
According to the budget statement, the government expects to collect NLe 8.3 billion from income taxes, NLe 3.9 billion from the goods and services tax (GST), NLe 5.5 billion from customs and excise duties, and NLe 1.3 billion from mineral revenues. Other sources include fisheries royalties, parastatal dividends, revenue from government departments and payments from agencies into the treasury single account.
While road user charges and vehicle licences are projected to bring in NLe 671.2 million, development partners are expected to provide NLe 3.8 billion in grants. Of this amount, NLe 1.8 billion will come as direct budget support from the World Bank, European Union and African Development Bank, while NLe 2.0 billion will be project grants.
On the spending side, total expenditure and net lending for next year is projected at NLe 30 billion. Recurrent expenditure, which covers salaries, goods and services, and other running costs, will take NLe 21.7 billion, while capital spending and net lending will amount to NLe 8.4 billion.
Foreign-funded capital projects will cost NLe 4.5 billion, while domestically funded capital spending will amount to NLe 2.7 billion. An additional NLe 1.2 billion is set aside for the recapitalisation of the Bank of Sierra Leone.
The minister said the budget aims to balance tight resources with urgent national needs, stressing that responsible revenue collection and disciplined spending will be crucial in 2026.
