Sierra Leone Generates $2.5 Million Per Day from Domestic Revenue – Finance Minister

Sierra Leone’s Minister of Finance, Sheku Fantamady Bangura, has disclosed that the country collects an average of US$2.5 million per day through domestic revenue mobilisation efforts.

Speaking on AYV, the Finance Minister said the revenue generated is primarily used to meet key government obligations, including public sector salary payments and debt servicing.

According to him, monthly salary payments amount to about US$25 million, representing a significant portion of government expenditure.

“Salaries are $25 million per month,” he said, adding that wage payments remain a top government priority.

Bangura further noted that debt servicing stands at approximately US$15 million monthly, with domestic debt accounting for the larger share of the burden.

He explained that while external debt remains relatively manageable, domestic debt continues to present greater challenges, requiring prudent fiscal management.

The Minister said the remaining revenue is used to finance government operations and deliver public services nationwide.

He also revealed that government is working to improve revenue performance, noting that a well-performing economy typically requires revenue collection equivalent to about 15 to 16 percent of Gross Domestic Product (GDP).

Bangura said Sierra Leone is currently targeting 11.8 percent of GDP in revenue collection this year, supported by ongoing fiscal reforms.

Under the Medium-Term Revenue Strategy, he added, government aims to progressively increase domestic revenue mobilisation to achieve its long-term targets by 2027.

He emphasised that sustained reforms will be critical to strengthening fiscal stability and supporting national development.