Ministry of Finance & Development Planning — Institutional Report

Institution Overview

• Institution: Ministry of Finance & Development Planning
• Year: 2,024
• Quarter: Annual
• Expenditure (USD): 22,724,585
• Active Employees: 446
• Workforce Size: 482

Expenditure & Workforce Trends

• 2024 (Annual): Expenditure: 22,724,585 USD · Active: 446 · Workforce: 482
• 2023 (Annual): Expenditure: 21,438,288 USD · Active: 439 · Workforce: 474
• 2022 (Annual): Expenditure: 20,224,800 USD · Active: 433 · Workforce: 468
• 2021 (Annual): Expenditure: 19,080,000 USD · Active: 426 · Workforce: 460
• 2020 (Annual): Expenditure: 18,000,000 USD · Active: 420 · Workforce: 454

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 Finance and Development Planning has demonstrated a consistent expansion in operational expenditure, rising from 18 million USD in 2020 to 22.7 million USD by 2024, reflecting the ministry's evolving mandate and resource allocation requirements for its 446 active employees. Macroeconomic projections for 2025 and 2026 indicate a resilient trajectory for the Liberian economy, underpinned by a forecasted GDP growth of 5 percent and an inflation rate stabilizing toward 8.2 percent. The fiscal landscape shows progress, with a projected primary fiscal surplus of 1.4 percent of GDP in 2025 and a manageable overall fiscal deficit of 1.1 percent, suggesting improved discipline in public finance management despite a significant current account deficit. Key growth drivers are anchored in the mining sector, which is expected to see a robust 17 percent expansion, bolstering the nation’s nominal GDP as it approaches the 5.6 billion USD mark by 2026. Investment opportunities are particularly evident in the diversification of the economy, supported by approximately 520 million USD in projected FDI inflows for 2025. However, the ministry must navigate lingering risks, including a high non-performing loans ratio of 16.2 percent and the persistent structural challenges indicated by a 33.6 percent poverty rate and a substantial current account deficit. Forward-looking strategies should prioritize sustaining tax revenue-to-GDP ratios, which are estimated at 15.9 percent, to ensure the country maintains its public debt at the targeted 54.6 percent of GDP while leveraging the mining sector's momentum to catalyze broader private sector productivity and long-term economic stability.