"Liberia's economy is supported by rich natural resources, with the extractive industry accounting for over 50% of GDP. However, it contributes only about 16% to domestic resources, underscoring the need for improved fiscal management and reform.
khulekani sibindi
Climate Financing Research on Domestic Resource Mobilization in Extractive Industry in Liberia
Liberia is an extremely resource-endowed nation, heavily dependent on the extractive industry. The extractive sector comprises of Mining, Agriculture, and Forestry. This industry constitutes more than 50 percent of the country’s GDP. Amidst this, the sector only contributes on average approximately 16 percent to the country’s domestic resource envelope. Much of this can be blamed on the favorable fiscal incentives enjoyed by this sector through the Liberian Revenue Code as Amended, Concessions agreements, and other fiscal instruments.