NATIONAL NEWS
MONROVIA – Liberia’s economic performance has shown encouraging momentum during the first year of implementation of the Government’s ARREST Agenda for Inclusive Development (AAID), with real Gross Domestic Product (GDP) growth rising from 4 percent in 2024 to 5.1 percent in 2025 and projected to reach 5.5 percent in 2026, Finance and Development Planning Minister Augustine Ngafuan has disclosed.
By: Trokon S. Wrepue – trokon1992seokin@gmail.com
Minister Ngafuan said the economic gains are consistent with the growth trajectory outlined under the government’s development agenda, while acknowledging that several implementation challenges, including delays in project execution, reporting gaps, institutional capacity constraints and weak coordination, continue to require attention.
The Finance Minister made the disclosure Tuesday, August 11, 2026, when President Joseph Nyuma Boakai, Sr. convened the National Steering Committee (NSC) to mark the completion of the first year of implementation of the AAID.
Presenting an assessment of the country’s economic performance, Minister Ngafuan said Liberia’s macroeconomic indicators during the period under review point to continued stability and gradual improvement.
“Our economic performance during the first year of implementation, that is 2025 to 2026, shows encouraging results,” Minister Ngafuan said.
According to him, Liberia’s real GDP growth increased from 4 percent in 2024 to 5.1 percent in 2025 and is projected to reach 5.5 percent in 2026.
He said the projected growth rate is in line with the development path established under the ARREST Agenda and reflects what he described as encouraging momentum in the Liberian economy.
GDP Per Capita Improves
Minister Ngafuan also reported an improvement in Liberia’s GDP per capita, which rose from US$849 in 2024 to US$861 in 2025.
He said the figure is projected to increase further to US$961 in 2026, bringing Liberia closer to the AAID’s target of US$1,050 by 2029.
The Finance Minister said the improvement in GDP per capita represents gradual progress toward the government’s broader objective of improving living standards and expanding economic opportunities for Liberians.
Inflation Remains Contained
On inflation, Minister Ngafuan said price pressures remained largely contained throughout 2025, with inflation staying within single digits.
He noted, however, that inflation increased moderately from 3.2 percent in January 2026 to 5 percent by June 2026, primarily driven by global fuel price shocks.
Despite the increase, the Minister said the overall inflationary environment remained within manageable levels during the period under review.
Public Debt Declines
Minister Ngafuan also pointed to improvements on the fiscal front, particularly in Liberia’s public debt position.
He said the country’s debt-to-GDP ratio declined from 56.1 percent in 2024 to 54 percent in 2025 and is projected to fall further to 49.6 percent in 2026.
According to him, the projected debt level remains well below the 56.4 percent threshold established under the AAID.
The Minister said the figures demonstrate continued fiscal stability while providing the government with an opportunity to focus on investments that can accelerate development and improve livelihoods.
Challenges Remain
Despite the positive economic indicators, Minister Ngafuan cautioned that the implementation report also identifies areas requiring greater attention.
He said the report highlights delays in project execution, gaps in reporting, institutional capacity constraints and the need for stronger coordination among government institutions.
“The implementation report reflects both encouraging achievements in areas requiring greater attention,” Ngafuan said. “At the same time, the report highlights challenges that require collective action, including delay in project execution, reporting gaps, capacity constraints, and the need for stronger coordination across institutions.”
The Finance Minister said addressing those challenges will be critical to ensuring that the economic gains recorded during the first year of the AAID translate into tangible improvements in the lives of Liberians.
NSC Reviews First Year of AAID
The National Steering Committee meeting, chaired by President Boakai and supported by the United Nations Resident Coordinator, was convened to assess progress made during the first year of implementation of the AAID.
The meeting also provided a platform for government officials and development partners to address implementation gaps, strengthen coordination and accountability, and mobilize resources amid changing financing conditions.
Minister Ngafuan said the meeting was particularly important because it allowed stakeholders to examine the draft implementation report covering the first and second quarters of 2026.
“Today’s meeting provides an opportunity to review progress made during the implementing of the first year of the ARREST Agenda and to consider the draft implementation report for the first and second quarters for 2026,” he said.
He added that the meeting was not only about reviewing figures and achievements but also about identifying institutional weaknesses and agreeing on practical measures to improve implementation.
“More importantly, it allows us to assess performance, identify institutional challenges and agree on practical measures to strengthen coordination and accelerate the delivery of results,” Ngafuan said.
Focus on Accelerating Development
The NSC meeting was expected to produce an implementation status report, provide policy guidance on development financing and cooperation, and adopt a high-level communiqué outlining priorities and commitments for 2026–2027.
The government’s review comes as the Boakai administration enters the next phase of implementation of the AAID, with increased emphasis on translating economic stability and growth into visible development outcomes.
While the reported economic indicators point to progress in GDP growth, per-capita income, inflation management and debt sustainability, the government faces the task of addressing project delays, institutional capacity limitations and coordination challenges that could affect the pace of implementation.
The review therefore provides the administration with an opportunity to strengthen its implementation mechanisms and ensure that the gains recorded during the first year are sustained as Liberia moves toward the AAID’s 2029 targets.
