Liberia national transfer accounts profile : harnessing the generational economy for a dynamic economy and a resilient population

Abstract

This report considers socioeconomic data emanating mostly from the Household Income and Expenditure Survey (HIES) report of 2016 and others up to 2019. At the time of the 2016 report, the population of Liberia totaled 4.2 million with a projected growth rate of 2.1%, while the total fertility rate stood at 4.2%. Between 2006 and 2013, the economy of Liberia registered an average growth rate of 7.3% and was considered one of the fastest growing economies in Africa. The present report represents another milestone in the country’s developmental trajectory. It signals a path whereby the Government of Liberia, in collaboration with its development partners, can collectively work together and through a synergistic approach reduce the gaps identified in our generational economy concerning age structure, gender and population growth. The challenges faced by private and public consumption expenditure in the critical areas of education, health and other services represent a potential threat to the nation’s ability to reap the benefits of the demographic dividend and scale up inclusive growth going forward.