President Joseph Nyuma Boakai, Sr. on Monday, January 26, delivered his third Annual Message to the 55th Legislature, presenting a government that says it has largely stabilized Liberia after years of economic fragility and institutional drift, and is now entering what he described as a decisive "delivery phase."
Under the theme "From Resolve to Results: Building on Progress and Delivering for the Liberian People," the address combined economic data, infrastructure milestones, and governance reforms with a clear political subtext: that the Boakai administration has moved beyond crisis management inherited from the Coalition for Democratic Change (CDC) era and must now prove it can translate stability into broad-based improvements in living standards.
"Our democracy will not be intimidated... and the progress we continue to make will not be thwarted," Boakai declared, referencing the unresolved arson attack on the Capitol Building, a symbolic reminder of institutional fragility when his administration took office in January 2024.
When the President assumed office, Liberia faced a difficult macroeconomic environment marked by high inflation (around 10 percent), weak foreign exchange reserves, rising domestic debt, and heavy dependence on donor financing. Infrastructure delivery had slowed, public trust in institutions was low, and governance systems--particularly payroll management, procurement, and concessions--were widely viewed as opaque and inefficient.
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The CDC administration left behind an economy vulnerable to shocks, with limited fiscal buffers and uneven service delivery. Against this backdrop, Boakai framed his first two years as a period of repair--restoring credibility with international partners, tightening fiscal controls, and reestablishing policy coherence.
"We emphasized inherited challenges not as an excuse," the President said, "but to highlight the hurdles we faced and the progress we have achieved."
The Economy: From Fragility to Stability
The strongest section of the address was the economy. President Boakai reported 5.1 percent GDP growth in 2025, outperforming projections and improving on 2024's 4 percent growth. Mining expanded by 17 percent, exports rose by over 31 percent to about US$2.1 billion, and services and agriculture showed renewed momentum.
Perhaps most significant was inflation, which fell to 4 percent, its lowest level in more than two decades. Foreign reserves rose from US$475 million in 2024 to US$576 million in 2025, while the Liberian dollar appreciated modestly, signaling improved confidence.
"These achievements signal effective monetary and fiscal policies," Boakai said, projecting average growth of about 6 percent between 2026 and 2028 if reforms and investments continue.
Domestic revenue mobilization emerged as a defining achievement. Domestic revenue reached US$847.7 million in 2025, the highest in Liberia's history, contributing to a record US$1.2 billion FY2026 budget. Over two years, domestic revenue has increased by more than US$235 million, reducing--but not eliminating--dependence on donors.
This performance contrasts sharply with the CDC years, when revenue growth was slower and fiscal space more constrained. Still, public debt remains high at US$2.8 billion, underscoring the need for continued discipline.
The administration's claims of resilience were tested in mid-2025 when donor funding was abruptly reduced, disrupting social programs and causing job losses. Boakai acknowledged the pain but argued the response showed improved state capacity.
"The government stepped in to close funding gaps and keep critical services running," he said, citing tighter fiscal controls and protection of health and education spending.
Donor confidence has since partially rebounded, with US$381 million reaffirmed in support and nine financing agreements totaling US$334.98 million concluded in 2025. Liberia's reaffirmed eligibility for a second Millennium Challenge Corporation Compact further reinforced international confidence.
Infrastructure: Visible Gains, High Expectations
Infrastructure--long a political fault line--was a major focus. The government reported increasing paved roads from under 12 percent to about 20 percent, maintaining over 780 kilometers of major corridors, and advancing key links to southeastern Liberia.
"Roads are not a slogan but a commitment," Boakai said, referencing progress on corridors such as Ganta-Saclepea, Saclepea-Tappita, and Buchanan-Greenville.
Energy delivery also improved. Over 63,000 new electricity connections were added, tariffs were reduced, and rural electrification expanded through solar projects. Electricity sales rose by 24 percent, with collection efficiency reaching 94 percent--though system losses remain high.
Compared to the CDC period, infrastructure delivery under Boakai appears more coordinated and better aligned with development planning, but financing constraints and execution delays--such as on the RIA Road Corridor--remain a concern.
Beyond economics and roads, the President highlighted progress in education, health, sanitation, social protection, and governance. Payroll cleanups removed ghost workers, thousands of volunteers were placed on payroll, and frontline salaries were increased. Health indicators improved markedly, with medicine stockouts reduced and immunization coverage rising.
In governance, anti-corruption efforts produced indictments and convictions, while audit compliance improved from 13 percent to 37 percent. Liberia's election to a non-permanent UN Security Council seat (2026-2027) symbolized restored international standing after years of reputational decline.
Yet challenges remain stark: youth unemployment, urban sanitation, land disputes, and inequality persist, and public expectations are rising faster than state capacity.
Challenges Ahead--and How to Mitigate Them
The Boakai administration faces three major risks: Execution Risk: Ambitious plans under the ARREST Agenda require strong coordination and timely implementation. Delays could erode credibility; Fiscal Vulnerability: Despite revenue gains, Liberia remains exposed to external shocks. Deepening domestic revenue reforms and managing debt prudently are critical, and Social Pressure: Stabilization does not automatically translate into improved household welfare. Jobs, affordability, and visible service delivery will define political legitimacy.
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Mitigation will require accelerating infrastructure projects, protecting social spending, expanding private-sector-led job creation, and strengthening local governance under decentralization reforms.
If current trends hold, Liberia could sustain 5-6 percent growth over the next two years, with inflation remaining low and reserves strengthening. Infrastructure expansion--particularly in roads, energy, and ports--could unlock private investment and regional trade.
However, success will hinge on whether stability turns into inclusion. As Boakai himself cautioned, "The gains we have recorded are not an end in themselves. They are a foundation."
Two years in, President Boakai has plausibly shifted Liberia from economic fragility toward stability, outperforming the conditions inherited from the CDC administration. The third year, however, marks a turning point. Liberians are no longer judging intent or repair--but delivery.
History's verdict, as the President acknowledged, will rest on whether this foundation produces lasting improvements in the daily lives of the Liberian people.
