Liberia Finance Minister,Amara Konneh
Amara Konneh, Liberia Finance Minister, said the country would see its economy shrink by 0.4 per cent this year and 2015 could be even worse as a result of Ebola outbreak.
He said on Friday in Monrovia that the country had projected growth of 5.9 per cent this year before Ebola struck the country, crippling agriculture and its fast-growing mining sector in particular.
Last month, the government announced that the economy had fallen into recession.
“The impressive real GDP growth rate that Liberia sustained over the last few years, which was approaching nine per cent just one year ago, has now dipped into negative territory, signifying the shrinking of our economy,” he said.
Konneh said the economy would likely be slow to recover.
“With economic activities expected to further deteriorate in the remaining months of 2014 and likely even worsen in 2015, our growth rate for next year is still subject to revision,” he said. (Reuters/NAN)
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