- Search Results
Election “Key Risk” To Projected 3.2 % Growth In 2017 RGDP
Date Uploaded: Apr 06, 2017

Montserrado County Flag


Election “Key Risk” To Projected 3.2 % Growth In 2017 RGDP 

By Joseph Toe

MONROVIA, April 4 (LINA) - The Central Bank of Liberia (CBL) has projected a 3.2 percent growth in the Real Gross Domestic Product (RGDP) in 2017, but the uncertainty surrounding the upcoming Presidential and General Elections will be a “key risk” factor, a CBL report has said.

Although the bank’s 2016 annual report released recently indicated that the growth is expected to be driven by all major sectors of the economy, other key risks will include further decline in the global market prices of iron ore and rubber, delay in planned investments and infrastructural challenges.

The report stated that the RGDP growth of the economy was estimated at negative 0.5 in 2016, adding that the projected contraction in real GDP was a result of the respective declines in all of the major sectors, except the agricultural and fisheries sectors.

According to the report, the annual inflation in 2016 was 8.8 percent from 7.7 percent recorded at the end of 2015.

The report then attributed the 1.0 percentage point rise in inflation to the depreciation of the Liberian dollar last year.

From US$896.4 million recorded in 2015, the report continued, the RGDP was estimated at US$891.9 at the end of 2016.

The report noted that the estimated contraction in real GDP was attributed to the respective declines in forestry, mining and panning, manufacturing and services.

The report stated that forestry went from 2.0 percent in 2015 to negative 7.0 percent; mining and panning went from negative 15.9 percent in 2015 to negative 23.8 percent, manufacturing went from negative 1.5 percent in 2015 to negative 4.9 and services from 4.3 percent in 2015 to negative 3.9 percent in 2016.  

According to the report,  the agriculture and fisheries sector grew by an estimated 6.4 percent from 0.7 percent in 2015, mainly on account of the growth in rice and cassava production along with the production of oil palm which is a result of ongoing efforts to boost export diversification.


latest headlines
Judge Kaba Reserves Ruling In E.J. Roye Building Case
Judge Yussuf D. Kaba of the Civil Law Court has reserved ruling in a motion for Declaratory Judgment filed by some individuals calling themselves ...more
CENTAL Raises Eyebrow About Political Parties Spending
The Center for Transparency and Accountability in Liberia (CENTAL) has expressed concern over the expenditure of political parties on fleets of n ...more
LTA, Partners End Int’l Internet Workshop
The Liberia Telecommunications Authority (LTA) and partners have ended a two-day international workshop on ICANN (the Internet Cooperation for As ...more
Liberia To Host GIABA Plenary, Ministerial Meetings
Liberia will host the Intergovernmental Action Group against Money Laundering in West Africa (GIABA) 27th Technical Commission/Plenary and 17th M ...more
GOL, Sweden Sign US$21.6m Accord On Feeder Roads In 7 Counties
The Governments of Liberia and Sweden have signed a US$21.6 million agreement to support the third phase of the Liberia-Swedish Feeder Roads Proj ...more
Defense Ministry Relaxes Camp Ramrod Eviction
The Ministry of Defense has with immediate effect put on hold its notice of eviction to inhabitants of the 72nd Camp Ramrod Barracks in Paynesvil ...more
All rights reserved © 2013 - 2014
Liberia News Agency