Ministry of National Defense — Institutional Report

Institution Overview

• Institution: Ministry of National Defense
• Year: 2,024
• Quarter: Annual
• Expenditure (USD): 27,774,493
• Active Employees: 2,229
• Workforce Size: 2,407

Expenditure & Workforce Trends

• 2024 (Annual): Expenditure: 27,774,493 USD · Active: 2,229 · Workforce: 2,407
• 2023 (Annual): Expenditure: 26,202,352 USD · Active: 2,196 · Workforce: 2,372
• 2022 (Annual): Expenditure: 24,719,200 USD · Active: 2,163 · Workforce: 2,336
• 2021 (Annual): Expenditure: 23,320,000 USD · Active: 2,132 · Workforce: 2,303
• 2020 (Annual): Expenditure: 22,000,000 USD · Active: 2,100 · Workforce: 2,268

National Macroeconomic Indicators

| Indicator | Value | Year | Trend | |---|---|---|---| | GDP (Current Prices) | 5.64 USD Billions | 2026 | up | | International Reserves | 2.9 Months of Import Cover | 2026 | up | | Public Debt | 54.6 % of GDP | 2026 | down | | Inflation Rate (CPI) | 8.2 % | 2026 | up | | GDP Growth Rate | 5 % | 2026 | stable | | Fiscal Deficit | 2.7 % of GDP | 2026 | up | | Current Account Deficit | 14.8 % of GDP | 2026 | up | | LRD/USD Exchange Rate | 183.9 LRD per USD | 2026 | up | | Real GDP Growth Rate | 5.4 % | 2026 | up | | Government Expenditure | 916.6 USD Millions | 2025 | up | | Tax Revenue to GDP Ratio | 15.9 % | 2025 | up | | Poverty Rate | 33.6 % | 2025 | up | | Unemployment Rate | 2.9 % | 2025 | stable | | Non-Performing Loans Ratio | 16.2 % | 2025 | stable | | Government Revenue | 880.7 USD Millions | 2025 | up | | FDI Inflows | 520 USD Millions | 2025 | up | | Capital Adequacy Ratio | 35 % | 2025 | stable | | Mining Sector Growth | 17 % | 2025 | up | | Central Bank Policy Rate | 16.25 % | 2025 | down | | Headline Inflation | 8.5 % | 2025 | down | | Gross Domestic Product (Nominal) | 5.25 USD billion | 2025 | up | | Population Growth Rate | 2.1 % | 2025 | stable | | Tax Revenue to GDP | 15.9 % | 2025 | up | | GDP (current US$) | 5.25 USD billion | 2025 | up | | Primary Fiscal Surplus | 1.4 % of GDP | 2025 | up | | Monetary Policy Rate | 16.25 % | 2025 | down | | GDP per Capita | 915.3 USD | 2025 | up | | Inflation Rate | 6.1 % | 2025 | down | | Real Non-Oil GDP Growth | 4.57 % | 2025 | up | | Total Population | 5,731,206 people | 2025 | up | | Nominal GDP | 5.64 USD billion | 2025 | up | | GDP per capita | 915.3 USD | 2025 | up | | Inflation Rate (Annual Average) | 8.5 % | 2025 | up | | Current Account Deficit to GDP | 14.4 % | 2025 | down | | Gross Domestic Product (GDP) | 5.25 USD billion | 2025 | up | | Public Debt to GDP | 54.6 % | 2025 | down | | Overall Fiscal Deficit to GDP | 1.1 % | 2025 | down | | Inflation Rate (Consumer Prices) | 6 % | 2025 | down |

National Trade Context

• Year: 2,026
• Total Exports (USD): 199.97
• Total Imports (USD): 261.94
• Trade Balance (USD): -61.97
• FDI Inflows (USD): 0
• Remittances (USD): 84.78
• Top Export Commodity: Rubber
• Top Import Commodity: Fuel

Private Sector Context (National)

• Year: 2,024
• Total GDP Contribution (USD M): 545.5
• ArcelorMittal Liberia: 480,000,000 USD revenue · 3,200 employees
• Firestone Natural Rubber: 185,000,000 USD revenue · 6,800 employees
• BRAC Liberia: 12,000,000 USD revenue · 450 employees
• Save the Children Liberia: 8,500,000 USD revenue · 320 employees
• SME Sector Aggregate: 95,000,000 USD revenue · 18,500 employees

Economic Analysis & Outlook

The Ministry of National Defense demonstrates a consistent upward trajectory in budgetary allocations, reflecting a strategic prioritization of institutional stability and operational capacity. Between 2020 and 2024, expenditure grew steadily from 22 million USD to approximately 27.77 million USD, supporting a workforce of 2,229 active employees within an authorized headcount of 2,407. This fiscal expansion aligns with broader national economic growth projections, where a 5.4 percent real GDP growth is anticipated by 2026. As the institution scales, its management of human capital and resource allocation becomes increasingly central to maintaining national security, which serves as a critical prerequisite for the stable investment environment required to attract FDI inflows, currently forecasted at 520 million USD for 2025. Despite the positive expenditure trends, the Ministry operates within a challenging macroeconomic context characterized by a 14.8 percent current account deficit and an 8.2 percent inflation rate projected for 2026. While the fiscal deficit remains relatively controlled at 2.7 percent of GDP, the reliance on a national revenue base of 880.7 million USD necessitates highly efficient resource deployment to maximize security outcomes without overstretching the public purse. The integration of modern administrative practices and infrastructure investment represents a significant opportunity for the Ministry to improve its operational readiness while contributing to the overall sustainability of public spending. Looking forward, the institution faces the dual pressure of inflationary risks and the need for fiscal discipline as the national public debt settles at 54.6 percent of GDP. Success will depend on the Ministry's ability to retain its professional workforce of over 2,200 personnel while aligning its strategic goals with the government's broader developmental agenda. By focusing on cost-effective procurement and improved administrative oversight, the Ministry can secure its role as a stable pillar of the Liberian state, ensuring that the necessary security infrastructure is in place to protect the projected economic expansion and the mining sector's 17 percent growth trajectory.