Macroeconomic — Economic Report

Indicator Performance (latest values)

| 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 | 5.5 % | 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 % | 2025 | down | | Real Non-Oil GDP Growth | 4.57 % | 2025 | up | | Total Population | 5,731,206 people | 2025 | up | | Nominal GDP | 5.25 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 |

Economic Analysis & Outlook

Liberia's macroeconomic landscape in 2026 demonstrates resilience, characterized by a steady real GDP growth rate of 5.5% and a nominal GDP expansion to 5.64 billion USD. This growth is underpinned by robust performance in the mining sector, which saw a significant 17% growth rate in 2025, alongside improved revenue mobilization efforts that pushed the tax revenue-to-GDP ratio to 15.9%. While the central bank has adjusted the policy rate downward, the economy faces headwinds from rising inflation, which has ticked up to 8.2%, and a widening current account deficit currently at 14.8% of GDP. Despite these challenges, the reduction in public debt to 54.6% of GDP reflects a disciplined approach to fiscal management, supported by a strengthening of international reserves to 2.9 months of import cover. Investment opportunities remain anchored in the mining sector's productivity and the potential for diversified growth beyond extractive industries, as evidenced by rising foreign direct investment inflows reaching 520 million USD. However, structural risks persist, including the elevated poverty rate of 33.6% and the vulnerability of the local currency, with the exchange rate climbing to 183.9 LRD per USD. Investors should remain cautious of the non-performing loans ratio, which remains stable at 16.2%, necessitating continued focus on financial sector stability. Looking ahead, Liberia's economic outlook remains cautiously optimistic, provided that policymakers can balance the necessity of infrastructure-led government expenditure with the requirement to manage the fiscal deficit, which has risen to 2.7% of GDP. Success will depend on sustaining the momentum of real GDP growth while effectively addressing inflationary pressures and leveraging the capital adequacy ratio of 35% to foster a more inclusive and stable financial environment for long-term development.