Publication: Liberia Economic Update: Investing in Human Capital for Inclusive and Sustainable Growth
Date
2022-06
ISSN
Published
2022-06
Author(s)
World Bank Group
Abstract
This is the third edition of the
Liberia Economic Update (LEU), a series of annual reports
that assesses recent economic developments in Liberia and
assists the government and its development partners in
identifying emerging issues and addressing persistent
challenges. It presents a broad overview of Liberia’s
macroeconomic context, assesses the macro-fiscal and growth
outlook over the short and medium terms, and sheds light on
the state of human capital in Liberia. The rebound in global
and domestic activity and higher prices of Liberia’s main
exports helped improve the country’s economic performance in
2021. The government’s fiscal position improved in 2021 due
to strong revenue growth and tight expenditure management.
The appreciation of the Liberian dollar, coupled with
prudent fiscal and monetary policies, helped stem inflation
in 2021. Liberia’s current account deficit widened despite
stronger export growth. As domestic activity picked up,
increased exports were offset by the surge in imports.
Liberia’s medium-term outlook is positive but subject to
significant downside risks and uncertainties. The positive
outlook is underpinned by significant tailwinds for mining,
the government’s planned scale-up of public investment, and
the implementation of structural reforms in key sectors,
including agriculture and energy. On the downside, there are
risks and uncertainties related to the path of the pandemic
at home and abroad, the war in Ukraine, and the upcoming
general elections in 2023.
Link to Data Set
Citation
“World Bank Group. 2022. Liberia Economic Update: Investing in Human Capital for Inclusive and Sustainable Growth. © World Bank, Washington, DC. http://hdl.handle.net/10986/38080 License: CC BY 3.0 IGO.”