{
  "id": 6276511,
  "title": "Liberia: Liberia Sitting On 5.3 Percent of GDP in Lost Revenue, World Bank Warns",
  "url": "https://urgent.news/2026/09/08/liberia-liberia-sitting-on-5-3-percent-of-gdp-in-lost-revenue-world",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-08T12:05:07.000Z",
  "source": {
    "name": "AllAfrica",
    "slug": "allafrica",
    "url": "https://allafrica.com/stories/202609080360.html"
  },
  "original_language": "en",
  "account": "Monrovia — According to the World Bank's Liberia Public Finance Review 2026, the West African nation is missing out on 5.3% of its GDP in potential revenue due to weak tax compliance, inefficient spending, and poor management of its mineral wealth. World Bank Country Manager Georgia Wallen emphasized that this situation presents an opportunity for Liberia to achieve fiscal transformation. While acknowledging the government's efforts to reduce the fiscal deficit, decrease public debt, and restore growth, Wallen stressed that unlocking domestic potential is crucial for raising the necessary US$8.4 billion over five years for the ARREST Agenda for Inclusive Development. The review identifies a 3% of GDP tax gap and 5-6% of GDP in tax expenditures, suggesting that Liberia could mobilize more revenue without relying on higher statutory tax rates. Senior Country Economist Muhammad Waheed highlighted that the deficit fell from 7.1% in 2023 to 2.1% in 2025 primarily due to expenditure compression, rather than sustainable revenue growth. He urged for improvements in tax compliance, risk-based audits, and technology to close the 3-point tax gap. The report also warns that SOE liabilities of $800 million (17% of GDP) and climate risks could undermine the gains made in fiscal stabilization. Deputy Minister for Fiscal Affairs Anthony Myres acknowledged the report's findings and pledged to modernize the Revenue Code, implement VAT, and enforce a new tax expenditure regime by 2027, pledging to work together with the World Bank.",
  "summary": "[Liberian Investigator] Monrovia -- Liberia is leaving the equivalent of 5.3 percent of GDP on the table every year through weak tax compliance, inefficient spending and poor management of its mineral wealth, the World Bank warned Monday at the launch of the Liberia Public Finance Review 2026.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}