The International Monetary Fund has cut down on Liberia’s 2019 growth outlook as inflation erodes gains made in revenue collection.
In a report published on its website, the Breton Wood Institution estimates growth for the West African nation country at 1.2% lower than 2.5% in 2017.
Forecast for 2019 on current policies also been reviewed down to 0.4% from 4.7 %. According to the IMF, Liberia’s inflation jumped to 28% in December. It said revenue reforms hold potential to directly expand the resource envelope and enhance a needed rise in social spending.
The IMF staff in Liberia recommend significant action to improve the business while removing administrative constraints on imports and prices to boost competition.