Claim 1: Liberia’s GDP growth averaged 4.8% in 2022 and 4.7% in 2023
Claim 2: fiscal deficit of 7.1% in FY2023,
Claim 3: Under President Boakai the fiscal deficit has declined to 2% in 2024, but economic growth remains sluggish at 4%.
Claim 4: The inflation stands at 8.3%, higher than the 2022 rate.
Amara Konneh, Senator, Gbarpolu County, in a Facebook post on Monday, November 3, 2025 made several claims on the economy.
Konneh has chaired the Senate Committee on Public Accounts and Audit (PAC) since 2024.
We reviewed the claims:
: Liberia’s GDP growth averaged 4.8% in 2022 and 4.7% in 2023.
Verdict: Mostly Correct
To fact-check this claim, we first searched publicly available data on Liberia’s economic growth for 2022 and 2023.
A review of data published by the International Monetary Fund—a global organization that fosters international financial stability by offering policy advice, financial assistance, and capacity development to its 190 member states. Liberia country data on the IMF graph shows that economic growth (real GDP growth) in 2022 was at 4.8% and drop to 4.6% in 2023.
The latest publicly available data from the World Bank on Liberia also shows that Liberia economic growth in 2022 was at 4.8 percent. The bank economic data for 2023 showed 4.6.
Based on this evidence published by the IMF and the World Bank, it is correct that economic growth in Liberia declined from 4.8 percent in 2022 to 4.6 percent in 2023.
Claim 2: Liberia Fiscal deficit is 7.1%
Verdict: Correct
The World Bank reports that Fiscal consolidation in 2024 led to significant progress: the overall fiscal deficit fell from 7.1 percent of GDP in 2023 to 2.0 percent in 2024, and the primary balance improved from a 6.1 percent deficit to 0.8 percent.
The report furthers that the revenue and grants rose to 22.5 percent of GDP (from 20.1 percent), with domestic revenue reaching 14.7 percent (from 13.4 percent). Total expenditure decreased from 27.2 percent to 24.5 percent of GDP, primarily due to reductions in election-related consumption spending.
“The fiscal deficit narrowed from 7.1 percent to 2.0 percent of GDP, driven by increased domestic revenues and spending and cuts.
Claim 3: Under President Boakai the fiscal deficit has declined to 2% in 2024, but economic growth remains sluggish at 4%
Verdict: Partially Correct
The sixth edition of the World Bank's annual Liberia Economic Update, titled “From Stabilization to Inclusion—Pathways to Resilient Growth and Productive Jobs,” focuses on Liberia’s recent economic developments, analyzes the status of the private sector, and how it can be strengthened to deliver productive jobs.
It indicates that Liberia’s economy showed stronger fundamentals in 2024, marked by tighter fiscal management, lower inflation, and improved external balances, according to new macroeconomic data released this week. Despite these gains, the report notes that growth momentum slowed, and persistent structural weaknesses continue to limit job creation and private-sector transformation.
It states that the fiscal deficit narrowed significantly, from 7.1 percent to 2.0 percent of GDP, while the public debt-to-GDP ratio dipped modestly to 57.2 percent.
Konneh claimed that the economic growth is sluggish at 4 percent but the report states that real GDP growth slowed to 4.0 percent in 2024 from 4.7 percent in 2023, as a strong deceleration of mining and manufacturing activity offsets gains in services and agriculture.
Claim 4: Inflation stands at 8.3%, higher than the 2022 rate.
Verdict: Correct
In 2024, Liberia's Inflation averaged 8.3 percent and in 2022 it was 7.6 according to the World Bank.
Conclusion: Of the claims Konneh made, the majority of them are True while one is partially correct.
