Declining global iron ore prices, slower mining production, weak governance and high inflation weakened Sierra Leone's economic growth in 2024. Furthermore, weak domestic demand and threats to global trade activity are key short-term risks. The country's agricultural sector also remains exposed to the vagaries of weather. That said, recent IMF disbursements should support growth in foreign exchange reserves, allowing local authorities to stabilise the currency and contain inflationary pressures this year. Real GDP growth is forecast to slow to 3.5% in 2025 from an estimated 4.0% last year.
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