National Investment Commission — Institutional Report

Institution Overview

• Institution: National Investment Commission
• Year: 2,024
• Quarter: Annual
• Expenditure (USD): 4,800,000
• Active Employees: 195
• Workforce Size: 220
• Notes: Government investment promotion agency. Mandated to attract and facilitate foreign and domestic investment, negotiate concessions, and coordinate special economic zones. Reports to the Ministry of Finance & Development Planning.

Expenditure & Workforce Trends

• 2024 (Annual): Expenditure: 4,800,000 USD · Active: 195 · Workforce: 220
• 2023 (Annual): Expenditure: 4,300,000 USD · Active: 185 · Workforce: 210
• 2022 (Annual): Expenditure: 3,900,000 USD · Active: 175 · Workforce: 200
• 2021 (Annual): Expenditure: 3,500,000 USD · Active: 165 · Workforce: 190
• 2020 (Annual): Expenditure: 3,200,000 USD · Active: 155 · Workforce: 180

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 | 5.5 % | 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 |

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

Social Programs (National Context)

• Year: 2,024
• Total Programs: 10
• Total Funding (USD): 20,500,000
• Government-Funded (USD): 10,000,000
• Total Beneficiaries: 460,000
• National School Feeding Program: 4,500,000 USD · Montserrado · government
• Urban Cash Transfer Program: 3,200,000 USD · Montserrado · ngo_donor
• Community Health Worker Initiative: 2,100,000 USD · Nimba · ngo_donor
• County Development Fund Projects: 1,800,000 USD · Nimba · government
• Agricultural Inputs Subsidy: 1,500,000 USD · Bong · government
• Rural Education Support: 950,000 USD · Bong · ngo_donor

National Trade Trends (Multi-Year)

• 2023: Exports: 920 · Imports: 1,340 · Balance: -420 · FDI: 312
• 2024: Exports: 1,304 · Imports: 1,728 · Balance: -424 · FDI: 0
• 2025: Exports: 3,180 · Imports: 3,420 · Balance: -240 · FDI: 520
• 2026: Exports: 199.97 · Imports: 261.94 · Balance: -61.97 · FDI: 0
• 2026: Exports: 3,650 · Imports: 4,000 · Balance: -350 · FDI: 560

Economic Analysis & Outlook

The National Investment Commission has demonstrated consistent fiscal scaling, with its annual expenditure rising steadily from 3.2 million USD in 2020 to 4.8 million USD by 2024, reflecting an organizational commitment to enhancing investment facilitation capacity. This trajectory aligns with a broader macroeconomic environment that remains resilient despite global headwinds. By 2026, Liberia is projected to achieve a GDP of 5.64 billion USD, underpinned by a 5.5 percent real GDP growth rate and a controlled inflation environment of 8.2 percent. The commission's administrative structure, supported by 195 active employees out of a 220-person workforce, positions it well to manage the anticipated influx of capital as the government prioritizes private sector participation, which currently accounts for 1.04 billion USD of national GDP. Sectoral performance remains anchored by the mining industry, which is expected to maintain a robust growth rate of 17 percent in 2025. This, combined with FDI inflows of 520 million USD, highlights the strategic importance of the commission in leveraging natural resource wealth to drive broader economic diversification. However, the outlook is balanced by structural risks, including a current account deficit projected to hit 14.8 percent of GDP in 2026 and non-performing loans within the banking sector remaining elevated at 16.2 percent. These challenges necessitate a disciplined approach to trade, where current imports of 261.94 million USD continue to outpace exports of 199.97 million USD. Looking ahead, the National Investment Commission must prioritize the optimization of capital deployment to support a 5 percent annual growth target while navigating the complexities of a 54.6 percent public debt-to-GDP ratio. By fostering an environment conducive to sustainable investment, the commission serves as a vital bridge between macroeconomic stability and the urgent need to address the 33.6 percent poverty rate, ultimately ensuring that Liberia’s long-term developmental goals remain within reach.