…Pres. Boakai says, rallies Liberians to join him in fixing the state 

    By: G Bennie Bravo Johnson I

Consistent with Article 58 of the 1986 Liberian constitution which provides that “The president shall on the fourth working Monday in January of each year present the administration legislative program for the ensuing session, and shall once a year report to the legislature on the state of the republic, in presenting the economic condition of the republic…”, President Joseph Nyumah Boakai on Monday, January 29, 2024, presented a report on the status of the nation.

He articulated that his administration inherited an undesirable state that is confronted with poverty, drug epidemic, corruption, poor infrastructure, and an underperforming economy.

“We must acknowledge the harsh realities that face us, as we report that the state of our nation is not what we desire.

It is important to note the problems that confront us: Poverty, drug epidemic, corruption, poor infrastructure, and an underperforming economy.”

However, the Liberian leader assured that admits those challenges, his administration is well poised to use the situation to embark on a new dynamic that would change the nation.

“The current challenges present us with a unique opportunity to embark on a new journey of hope. This is our commitment to rescue the nation”

President Boakai who delivered his first State of the Nation address to the 55th National Legislature, provided that though his administration inherited an undesirable economy, his administration would use his ARREST platform to transform the status of the Liberian economy, asserting that it would guide the preparation of the new medium-term national development plan for the welfare of Liberia.

“Our vision, as revealed in ARREST (meaning, Agriculture, Roads, Rule of Law, Education, Sanitation, Tourism) shall guide the preparation of the new Medium-term National Development Plan for the welfare of our people.  We must harness opportunities in agriculture, roads, and other infrastructure development; improve the rule of law, rethink the education sector, improve sanitation, and unlock the potential of tourism.”

He further noted that creating economic linkages between development facets and reinforcing them will help reverse years of economic downturns. 

Meanwhile, he provided that the state of the economy is a cause for national concern, as it has led to many citizens facing perennial unemployment and economic instability. 

The Liberian Leader said it has led to social pain and frustration that permeate the society. He says the pain and frustration must not just be recognized,  but urged the legislature to work together to introduce and pass legislations that will prioritize economic reforms that foster sustainable economic growth and job creation.

“The state of the economy is a cause for concern, with many of our citizens facing perennial unemployment and economic instability. We must not just recognize the pain and frustration that permeate our society, but also work together to introduce and pass legislations that will prioritize economic reforms that foster sustainable economic growth and job creation.”

The Liberian leader provided that the economic growth of the nation dwindled by 0.2 between 2022 and 2023.

President Boakai stated that the growth rate averaged approximately 1.5 percent, compared with 3.1 percent between 2012 and 2017. Something he averred that emerged from an underperforming economy and the existing geo-political global environment that contributed to economic challenges in terms of growth, job creation, and poverty reduction.  

“Distinguished Legislators, economic growth slowed between 2022 and 2023, from 4.8 percent to 4.6 percent. 

The rate of growth averaged about 1.5 percent, compared with 3.1 percent between 2012 and 2017 due in part to an underperforming economy and the existing geo-political global environment. During the past six years, the economy faced challenges in terms of growth, job creation, and poverty reduction.”

In continuation, the Liberian leader provided that inflation during the period 2023 rose to 10.1 percent at the end of December, from 7.6 percent in 2022 and revenue collection as reported for 2023 stood at US$710.23 million while expenditure totaled US$796.32 million.

Something he described as a large budget deficit of over US$80 million.

“Inflation during the period 2023 rose to 10.1 percent at the end of December, from 7.6 percent in 2022. Revenue collection as reported for 2023 stood at US$710.23 million while expenditure totaled US$796.32 million; hence, a large budget deficit of over US$80 million.”

However, president Boakai who on Monday marked one week in office, revealed that his administration intends to change this state of the economy by thinking “outside the box” and provide a paradigm shift away from reliance on primary commodity export to focusing on value addition with the private sector as the engine to drive the Liberia’s economy.

“We intend to change this state of the economy by thinking “outside the box”; a paradigm shift away from reliance on primary commodity export to focusing on value addition with the private sector as the engine to drive the economy.”

Furthermore, he assured Liberians that his 

the administration will prioritize the empowerment of Liberian entrepreneurship through more support that will help bring back what he termed as the “Made In Liberia.” Insinuating that it is a quest for inclusive and sustainable growth and job creation. 

The President noted that his administration’s quest is to expand the economy, and will leverage Information Communication Technology (ICT) in creating jobs, especially for our youth. 

He asserted that to achieve this, his administration will train up to 10,000 young people in various digital skills in the first half of 2024 to create a Liberian middle-class in the next six years.

“In our quest to expand the economy, we will leverage Information Communication Technology (ICT) in creating jobs, especially for our youth.  To achieve this, my Administration will train up to 10,000 young people in various digital skills in the first half of 2024. The Liberian middle-class goal must be a reality in the next 6 years.”

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