GoL unveils its ambitious ARREST Agenda, To Balance Reduction by 2029

The Liberian government has unveiled its ambitious ARREST Agenda for Inclusive Development (AAID) National Development Plan, setting transformative targets for the country's socio-economic development between 2025 and 2029. 

With a vision of converting potential wealth into tangible prosperity, the plan outlines bold macroeconomic and social goals, signaling the country’s commitment to fostering inclusive growth.

The AAID Plan aims for a 37% increase in GDP, growing from $4.75 billion in 2024 to $6.51 billion by 2029. 

This economic expansion would push the GDP per capita up by 23.6%, from $849.3 to $1,050.3, reflecting improvements in individual wealth and living standards.

In the area of demographics, Liberia’s population is projected to grow by 10.7%, rising from 5.6 million in 2024 to 6.2 million by 2029. 

This growth underscores the urgency of addressing key social services such as health, education, and job creation.

Unemployment is set to decline by 0.9 percentage points, from 5.9% to 5%, as the government emphasizes economic formalization, targeting a 17.6 percentage point increase in formal jobs, from 12.4% in 2024 to 30% by 2029. 

This leap could significantly reshape Liberia’s labor market and improve household incomes.

One of the most notable goals is the 66.9% reduction in the trade deficit, which is projected to shrink from $725.1 million to $485.6 million. 

This reflects plans to enhance domestic production and exports while curbing imports, addressing long-standing imbalances in the country’s trade dynamics.

Foreign Direct Investment (FDI) inflows are expected to rise by 18%, from $477 million in 2024 to $563 million in 2029, highlighting efforts to make Liberia a more attractive destination for international investors.

The AAID also tackles governance and rule of law, with plans to improve Liberia’s position on key global indices. 

The country aims to climb 10 places on the Transparency International Corruption Perceptions Index, moving from 145th to 135th, and improve by the same margin on the World Justice Project Rule of Law Index, advancing from 109th to 99th.

Health and human capital indicators are central to the plan. Average life expectancy is expected to rise by three years, from 60 to 63 years, while under-five child mortality is targeted to decrease by 46 deaths per 1,000 live births, from 93‰ to 47‰. 

Maternal mortality, a pressing concern in Liberia, is projected to drop significantly by 302 deaths per 100,000 live births, from 742 to 440.

In education, the government is targeting a 4 percentage point increase in school completion rates, from 11% in 2024 to 15% in 2029, alongside a 0.7-year increase in years adjusted for learning, from 2.4 years to 3.1 years. 

The literacy rate for individuals aged 15 and older is set to rise by 4.2 percentage points, from 59.9% to 62.8%.

Liberia’s Multidimensional Poverty Index is projected to improve by 9 percentage points, dropping from 45% in 2024 to 36% by 2029. 

This reflects concerted efforts to address the multifaceted challenges of poverty, including health, education, and living standards.

The Sustainable Development Goals (SDGs) also feature prominently, with the plan targeting an improvement of 7 places on the SDG Index, moving from 152nd to 145th globally.

Senator Amara Konneh, one of the architects of the plan, described it as “a roadmap to transforming Liberia’s future,” emphasizing the importance of realistic macro assumptions in driving economic transformation.

The AAID plan draws from Liberia’s experiences of overcoming past conflicts, the Ebola epidemic, and other shocks. 

Its comprehensive approach to governance, economic policy, and human capital development aims to lay the foundation for sustained growth and stability.

While the AAID Plan has been met with optimism, experts caution that achieving these targets will require robust implementation, political will, and effective resource allocation. 

The stakes are high, but the potential rewards for Liberia’s development are even higher.

As Liberia embarks on this ambitious journey, the AAID Plan stands as a symbol of the country’s resolve to overcome its challenges and unlock its vast potential.