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Central Bank Projects 3.2% Growth In 2017
Date Uploaded: May 10, 2017

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Central Bank Projects 3.2% Growth In 2017

MONROVIA, May 9 (LINA) – Central Bank of Liberia (CBL) Executive Governor, Milton A. Weeks, has projected a 3.2 percent growth rate in the country’s economy in 2017 as opposed to the negative 1.2 percent recorded in 2016.

Governor Weeks noted that the level of growth in the economy in 2017 will be driven by almost all of the sectors of the economy as compared to 2016.

Releasing the CBL’s 2017 Policy Statement in Monrovia on Monday, Weeks also indicated that the annual average inflation in 2017 is expected to take an upward trend of around 11.0 percent, attributing this to depreciation o f the Liberian Dollar.

“Any drop to a single-digit rate of inflation would depend on the movement of the exchange rate, international oil and food prices and the level of improvement in roads construction and energy supply,” he noted.

 He said the CBL will remain focused on its core mandate during the year in order to achieve its monetary policy objectives by continuously working closely with the fiscal authorities and other stakeholders to improve the country’s fiscal sector aimed at promoting economic growth and development.

The CBL Executive Governor assured Liberians of the bank’s continued efforts aimed at sustaining a stable macroeconomic environment characterized by broad exchange rate stability and low inflation, despite the country’s slow recovery from the Ebola crisis and the drop in basic commodity prices.

LINA PSN/TSS/PTK

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