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Liberia’s macroeconomic performance strengthened in 2024, with notable improvements in fiscal consolidation, inflation management, and external rebalancing, although the growth momentum moderated. Inflation eased in 2024 due to strong policy action, nevertheless rising non-food inflation during the latter part of the year signals structural weaknesses. Poverty declined slightly but remains high, requiring job-rich growth and improved data systems to guide appropriate policymaking. 

Credit growth softened in 2024, and the financial sector stability indicators improved, though rising nonperforming loans (NPLs) pose a challenge. Improved exports and the slowdown in imports narrowed the trade deficit, but concerns remain over investment and high export concentration. Fiscal consolidation advanced in 2024, amid stronger domestic revenue mobilization and sharp spending cuts. Liberia’s medium-term prospects remain positive, albeit vulnerable to both domestic and external risks. 

Translating stabilization into inclusive growth requires confronting Liberia’s employment crisis head-on. Liberia’s job challenge stems from the contrast between a growing labor force and insufficient structural transformation. Unlocking employment potential requires enabling firm growth, expanding production capacity, and addressing spatial and sectoral concentration. The transformation of Liberia’s employment landscape hinges on a four-pronged strategy. 

This strategy should be complemented by long-term investments in education and human capital, improved market access for local firms, and targeted incentives for firms that offer wage employment. Aligning industrial and labor policies with spatial development priorities and value-chain potential will also be essential to drive inclusive job creation and reduce regional disparities in employment opportunities.