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World Bank Releases Economic Update on Liberia

by Varflay Kamara

MONROVIA, LIBERIA-World Bank Group Country Office in Monrovia has released an Economic Update on Liberia, highlighting a 5.9 percent growth in the Agricultural Sector in 2022.

It says the Country’s economy expanded by 4.8 percent, despite global shocks from the war in Ukraine, high global inflation, and depressed demand in advanced economies.

The World Bank report attributed such economic expansion in 2022 to gold production and a relatively good agricultural harvest.

According to the report, growth in services slowed to 2.8 percent from 3.0 percent in 2021, reflecting a slowdown in trade and transport services and the hospitality industry.

The World Bank, in its report, said registration of customary land, improvement of roads, and affordable energy are potential interventions required to improve the rice value chain.

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