Analysis by Region - Emerging Markets - Sierra Leone

Analysis by Region - Emerging Markets - Sierra Leone

Economic conditions in Sierra Leone remain precarious. Still, real GDP growth surprised to the upside in 2022 with the economy growing by an estimated 3.5% during the year ? exceeding our previous estimate that the economy would grow by 2.9%. The higher-than-expected growth rate in 2022 may be ascribed to strong mining production and agricultural activity. We have adjusted our forecasts accordingly and now expect a real GDP growth rate of 3.4% in 2023, outpacing our earlier projection of 3.2% growth. It is worth noting that spiralling inflation and the nation's susceptibility to international supply chain shocks are key risks to the outlook.