By Festus Poquie
President Joseph Boakai has promised to build a middle income economy in six years, placing the private sector at the heat of the domestic economy while making Liberia a manufacturing nation.
He told lawmakers Monday the national economy under his predecessor underperformed and that he will introduce reforms that will foster sustainable economic growth create jobs in a country plagued with perennial unemployment. The economy will go didgital with cashless financial transaction, the President said.
The current state of the Liberian economy is undesirable, Boakai said in his first state of the nation address delivered at the Capitol in Monrovia.
A Medium-term National Development Plan will be draft to guide the administration policy that aims o improve the welfare of the country’s 5.5 million people, he said.
“We must harness opportunities in agriculture, roads, and other infrastructure development; improve the rule of law, rethink the education sector, improve sanitation, and unlock the potential of tourism.
“We believe that creating economic linkages between these development facets and reinforcing them will help reverse years of economic downturns.”
“During the past six years, the economy faced challenges in terms of growth, job creation, and poverty reduction.
“We intend to change this state of the economy by thinking “outside the box”; a paradigm shift away from reliance on primary commodity export to focusing on value addition with the private sector as the engine to drive the economy.
Under my Administration, the empowerment of Liberian entrepreneurship through more support will help bring back THE MADE IN LIBERIA quest for inclusive and sustainable growth and jobs.
“In our quest to expand the economy, we will leverage Information Communication Technology (ICT) in creating jobs, especially for our youth.
To achieve this, my Administration will train up to 10,000 young people in various digital skills in the first half of 2024. The Liberian middle-class goal must be a reality in the next 6 years.”
