In 2024, inflation averaged 8.3%, down from 10.1% in 2023, supported by tight monetary policy and exchange rate stability. Food inflation fell from 28.4% in February to 9.7% in December, while core inflation rose from 3.2 to 11.3%. The Central Bank kept rates between 20–17% in 2024, later raising to 17.25% in July 2025. The Liberian dollar depreciated 8.5%, versus 12.6% in 2023. Inflation averaged 11.8% in early 2025 but eased to 5.6% by August.
In 2021, approximately half of Liberia's population was living below the extreme poverty line. Meanwhile, improved economic conditions have reduced extreme poverty to 33.1% in 2024, with further declines expected.
Fiscal conditions showed improvement in 2024. The overall fiscal deficit decreased to 2.0% of GDP in 2024, compared to 7.1% in the previous year, while the primary deficit was reduced to 0.8% from 6.1%. This resulted from a 4% GDP cut in public spending on goods and services and a 1.3% GDP rise in domestic revenue. Public debt was 57.2% of GDP in 2024, a marginal decrease from 57.8% in 2023, and is projected to further decline to 54.8% by 2027.
The current account deficit declined to 11.2% of GDP in 2024 from 26.4% in 2023, primarily due to a reduction in the trade deficit. This improvement was supported by an increase in exports, driven mainly by gold, and a decrease in imports. The deficit was covered by foreign direct investment and aid.
