Parliament Approves Le 14.46 Billion Supplementary Budget to Enhance Fiscal Stability

Sierra Leone’s Parliament has officially passed the Supplementary Appropriation Act 2025, authorizing a revised budget of Le 14.46 billion for the remainder of the fiscal year. 

This crucial move, aimed at "Fiscal Consolidation and Budget Credibility to Sustain Macroeconomic Stability," follows extensive deliberations and a reassessment of economic conditions.

Initially, the 2025 Appropriation Act stood at Le 27.7 billion. However, due to significant shifts in both domestic and global economies, an adjustment of Le 871.8 million was made. Finance Minister Sheku Ahmed Fantamadi Bangura emphasized that the original revenue and expenditure projections were no longer sustainable, necessitating this revision. 

He highlighted improved macroeconomic indicators, including a lower-than-expected inflation rate and a stronger exchange rate, with treasury bill rates declining to more sustainable levels. 

The revised budget aims to reduce the deficit to 3.8% of GDP, down from 3.9%, thereby reducing borrowing needs and complementing efforts to curb inflation and stabilize the Leone.

Minister Bangura noted a significant drop in inflation from 54.5% in October 2023 to 7.1% by June 2025, calling it a milestone. 

He reassured lawmakers of the government’s commitment to creating fiscal space for priority sectors to sustain economic growth and improve service delivery.

While the government lauded the budget as a step towards stability, opposition voices were critical. 

Hon. Aaron Aruna Koroma branded it an “Austerity Budget,” citing concerns about cuts to agriculture and youth employment. 

Opposition Leader Hon. Abdul Kargbo echoed this sentiment, arguing the budget's theme was ironic given "uneven distribution of resources."

In defense of the government, Leader of Government Business Hon. Mathew Sahr Nyuma pointed to falling inflation and increased economic stability, stating, “Sierra Leone stands tall in the ECOWAS region when it comes to sound macroeconomic policies.”