Sierra Leone’s economy is projected to grow at 3.7% on average during 2023–25, below its long-term trend. This scenario is predicated on sound domestic policies, including a tight monetary stance to combat inflation, and an equally conservative fiscal policy to decrease debt pressures and rebuild fiscal space. Headline inflation could moderate gradually to 14% and the fiscal deficit decline to 3.9% of GDP by 2025, according to the new World Bank Sierra Leone Economic Update launched today in Freetown. The report notes that risks to debt sustainability will remain elevated until fiscal balances improve further and the reliance on expensive and short-term domestic borrowings is addressed through the lengthening of maturities and greater access to concessional borrowing.
Sierra Leone is implementing its National Payments Switch, joining a rapid evolution of the landscape of payments worldwide it will promote modernization of the country’s national payment system.
The World Bank works closely with development partners to support Sierra Leone in fighting poverty, promoting economic development and improving living standards.