Speaking at the official release of the “Liberia Economic Update”, the 6th Edition of the World Bank report on Liberia, Deputy Finance Minister for Economic Management, Dehpue Y. Zuo, praised the country’s recent economic growth performance and promised sustained leadership on job creation.
The report emphasizes that with the right policy actions, fiscal discipline, and private sector engagement, Liberia can move beyond its historic cycles of economic volatility toward a more resilient and inclusive future.
“We are doing everything within our effort as a country to sustain growth,” Deputy Minister Zuo said, emphasizing that the report will inform planning for the Fiscal Year 2026 national budget and development agenda.
He further highlighted the government’s shift from stabilization toward inclusive development, particularly through public-private partnerships (PPPs).
“With support from the World Bank, we now have a policy on PPPs as a driver for job creation. The approach not only creates jobs and stabilizes the economy; it provides opportunities for our young people to innovate and bring development to our country,” Zuo stated.
Zuo announced that the government is pursuing an ambitious goal of achieving US$1 billion in national revenue, citing strong current performance and collaboration with the Liberia Revenue Authority (LRA) and development partners.
He called on all stakeholders, including the private sector, civil society, and development partners to move from advocacy to active participation in the economy.
“Long years ago, we were all saying we need change. But once you are a player, you have to make that change as a player, not a spectator in your own economy,” he asserted.
Minister Dehpue Zuo reiterated the government’s commitment to strengthening Domestic Resource Mobilization (DRM) as a cornerstone for sustainable development and fiscal resilience.
He emphasized that the DRM Strategy 2025–2029 will guide Liberia’s efforts to mobilize resources efficiently while promoting inclusive growth.
Key priorities under the DRM Strategy 2025–2029 include diversifying the economy, investing in human capital, maintaining fiscal prudence and sustainable debt management and implementing fragility-sensitive, resilient reforms amongst others.
Minister Zuo highlighted that these measures are critical to reducing dependency on external aid, enhancing national ownership, and accelerating Liberia’s path toward sustainable development.
Speaking earlier, World Bank Managing Director for Liberia, Georgia Wallen, emphasized the private sector’s critical role in creating sustainable employment.
“The only better way to create sustainable employment is not through government, but through the private sector. This raises the urgency for high-level coordination, regulatory reforms, and stronger support for SMEs,” Wallen averred.
She also called for a review of the country’s school curriculum and skills development programs to better prepare Liberians for entrepreneurship and the labor market.
The World Bank report highlights that Liberia achieved robust economic growth between 2004 and 2014, averaging approximately 7% annually. Growth, however, slowed to 1.4% per year from 2014 to 2023 due to global and domestic shocks.
Despite these challenges, the bank notes that on-going reforms in public financial management and fiscal stability provide a strong foundation for renewed progress.
The bank commended the Government of Liberia (GOL) for its efforts to stabilize the economy and strengthen fiscal responsibility.
Wallen said, that the report will inform planning for the Fiscal Year 2026 national budget and development agenda.
The report, titled, “From Stabilization to Inclusion: Pathways to Resilient Growth and Productive Jobs”, aligns closely with President Joseph Boakai’s ARREST Agenda, which prioritizes agriculture, roads, rule of law, education, sanitation, and tourism.
