Liberia's latest economic outlook, as presented by the World Bank, offers a troubling reminder of the country's economic experience between the 1950s and 1970s, when impressive growth figures failed to translate into meaningful improvements in the living conditions of ordinary citizens.
According to the World Bank's Seventh Liberia Economic Update, real Gross Domestic Product (GDP) growth accelerated from 4.0 percent in 2024 to an estimated 5.1 percent in 2025, driven largely by a 17 percent expansion in the mining sector and modest gains in services.
Yet, despite these encouraging figures, extreme poverty reportedly increased from 34.6 percent in 2024 to 36.1 percent in 2025, amid persistent unemployment and growing food insecurity.
These figures present a disturbing contradiction: Liberia's economy is expanding, but the benefits of that growth remain beyond the reach of many ordinary citizens.
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Even more concerning is that this reported economic expansion coincides with significant increases in the national budget.
Liberia's national budget rose from US$738.9 million in 2024 to US$880.7 million in 2025, before climbing to approximately US$1.21 billion in 2026.
Despite these substantial increases in public spending allocations, poverty remains widespread, while critical sectors such as healthcare, education, infrastructure, and employment continue to face enormous challenges.
The situation raises a fundamental question: What benefit is economic growth if it fails to improve the living conditions of the people?
The New Dawn believes this contradiction deserves serious attention from President Joseph Nyuma Boakai and his administration, particularly as the government continues to highlight improvements in domestic revenue generation and economic performance.
The current situation bears striking similarities to Liberia's economic experience between 1955 and 1975, when the country recorded impressive growth rates, largely driven by foreign investments in iron ore mining and rubber production.
During that period, Liberia was frequently celebrated for its economic performance. However, much of the wealth generated remained concentrated among foreign corporations and a small political and economic elite, while the majority of Liberians continued to struggle with poverty, inadequate healthcare, poor educational facilities, and limited infrastructure.
In effect, Liberia experienced economic growth without corresponding human development.
Decades later, the country appears to be confronting a similar challenge.
The World Bank's latest findings also raise concerns about institutional accountability and transparency, particularly weaknesses in financial reporting and oversight involving state-owned enterprises.
These challenges reinforce longstanding concerns about whether public resources are being managed effectively to deliver essential services and improve citizens' welfare.
Meanwhile, businesses continue to face serious operational difficulties, including congestion at the Freeport of Monrovia, where delays in clearing imported goods have disrupted commercial activities and increased costs for importers.
Such difficulties ultimately affect consumers through higher commodity prices, further worsening the economic burden on ordinary households.
At the same time, several government ministries and agencies continue to struggle with funding constraints and delays in receiving budgetary allotments, raising additional questions about expenditure priorities and the effectiveness of public financial management.
For an administration that frequently points to increased revenue collection and expanding national budgets as evidence of economic progress, these realities should serve as a warning.
Economic growth cannot be measured solely by rising GDP figures, expanding national budgets, or increased revenue collection. Its true value must be reflected in affordable healthcare, quality education, employment opportunities, improved infrastructure, food security, and better living standards.
The New Dawn therefore urges the Boakai administration to critically examine the World Bank's findings and adopt deliberate policies that ensure the benefits of economic growth reach ordinary Liberians.
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This requires greater investment in productive sectors, stronger public financial accountability, improved delivery service, support for local businesses, and practical measures to address unemployment and the rising cost of living.
The government must move beyond celebrating economic statistics and demonstrate how these figures translate into tangible improvements in the daily lives of citizens.
Liberia cannot afford another era of impressive economic growth accompanied by widespread poverty and deprivation.
With the 2029 general elections approaching, the Boakai administration must recognize that citizens will ultimately judge its performance not by economic projections or budgetary figures, but by the conditions under which they live.
Unless the government deliberately bridges the widening gap between economic growth and citizens' welfare, its celebrated economic achievements risk becoming little more than political talking points.
The lesson from Liberia's economic history is clear: Growth without development is not progress.
