Dismal performance of the Liberian economy has been attributed to high dependency on imports.
By Ramsey N. Singbeh, Jr in Margibi
Margibi County, Liberia, December 3, 2024—The German Ambassador to Liberia, Dr. Jakob Haselhuber, notes that the country’s high dependency on imports is hampering its economy.
Ambassador Haselhuber observed in an interview with reporters in Margibi County District# 4, where he had gone recently along with his wife for an official launch program.
The program is funded by the German Cooperation Deutsch Zusammenarbeit, supported by Welt Hunger with Hilfe, and implemented by Serving Humanity for Empowerment and Development (SHED).
According to the Ambassador, he has been surprised by Liberia’s high dependency on imports ever since he came to the country.
He notes that most of the products sold here are produced outside the country, so value change is also placed abroad, as salaries and taxes are paid outside, which he cautions is not good for Liberia.
“I’m not an agriculture specialist, but ever since I arrived in this country, I was surprised by the high dependency on imports, and if I go to the market like Catholic Junction close to my embassy, most of the products that are sold there are produced outside, so the value change is placed outside the country. The salaries are earned,d and the taxes are paid outside the country. That cannot be in the interest of Liberia,” Dr. Haselhuber continues.
In a related development, he recounts numerous developmental projects in Liberia in which Germany has invested millions of Euros.
The German Ambassador, responding to an inquiry about how much his country has invested in Liberia’s agriculture development, explains that he could not tell the exact amount but reveals that Germany has invested about 130 million Euros into Liberia’s Electricity, set up laboratories, and hospitals in the Southeast of Liberia, and funded a vocational training center in Bensonville, Montserrado County.
The Liberian economy is heavily import-driven, moving from essential commodities to rice, the nation’s staple on which the government spends millions annually despite the country being endowed with rich soil for agriculture. Editing by Jonathan Browne
