Large macroeconomic imbalances, low fiscal reserves and forex buffers limit the government’s options for addressing COVID-19 crisis, the economic updated stated. Under the moderate downside scenario, real GDP could contract by an additional percentage point to 3.6 percent in 2020 and recover more slowly. According to the World Bank, COVID-19 has thrown the world in the worst economic crisis since the Great Depression. Economy is projected to contract in 2020, and poverty rates are projected to increase. Implementing a mix of health, education, worker training, and social protection policies to improve productivity and enhance the employment prospects of working-age Liberians.

Source: Front Page Africa July 30, 2020 16:52 UTC