By: Joseph Titus Yekeryan
Finance and Development Planning Minister Samuel D. Tweah says the Weah – led administration is doing extremely well to improve the broken economy it inherited in 2018.
According to Minister Tweah, the Ministry of Finance had no micro policy during the administration of former President Ellen Johnson Sirleaf which placed more pressure on the Central Bank of Liberia.
But he said the Weah – led government introduced a responsible fiscal management policy which is gradually working.
“That policy is gradually working and we can assure our people that there will be good news for our economy,” Minister Tweah added.
He said they have worked out key issues to help improve Liberia’s economy but will require gradual process.
According to him, they were instructed by President George Manneh Weah to control the government’s spending, especially when there is no money in the national coffers, and rather put in place mechanisms that would bring in money.
According to him, adherence to the president’s instructions brought to an end the continued borrowing of money from the Central Bank of Liberia thus decreasing financial difficulties on the bank.
Minister Tweah told the media that prior to President Weah coming to power, inflation rate was at 30%, but under the current government, inflation has drastically dropped to 8%.
He disclosed that Liberia is the only country that is not borrowing money from its central bank, maintaining that it is due to the policy they put into place.–Edited by Winston W. Parley