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LIBERIA RESTORATION PARTY

" Providing leadership to restore Liberia"

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Our Economy Polcy

The Economy is the life-blood of the nation. When it prospers the people are happy, live longer and get involved in development practices. But making the economy work properly requires careful planning and executing. We envisage an economy that prioritizes:

1. Job creation: The people need jobs that gainfully employ their knowledge and skills, whether in the public or private sector. Government hopes to create environment that fosters creating more jobs. Liberia’s population is approximately 4 million, but the working class is much smaller and unemployment is high.
We will need to create certain amounts of jobs in various sectors of the economy.

Agriculture will account for at least 40% of all jobs.
Commerce and Industry will provide about 30% of the country’s jobs. Government will account for about 15% of jobs in the country. Services will provide about 15% of the jobs.
 

2. Liberian-led:
Government’s hope is for Liberia’s economy to hang heavily on
Liberians. They will drive their economy and only let others serve with them. That means there will be more Liberian businesses. We will ensure that certain businesses done in Liberia are headed by Liberians. This means that some of our foreign partners must have a Liberian as head of that business in order to
operate in Liberia. It is about time that we not only teach our people how to fish, but also teach them how to own the “fishing pond.” We will teach Liberians how to lead and help them lead. Qualified Liberian companies will be given priority when it comes to all Government contracts that are sponsored by the Liberian Government.
 

3. Export-oriented:
We will strive to develop an economy that cuts heavily back on. imported goods and services for one that manufactures and exports. This will take some time but it is not impossible if Liberians set themselves to it.
 

4. Tax-based:
We can hardly make good economic progress where we fail to give back to the system through taxes. Liberians will learn to pay taxes on their property, earnings and profits. Duty-free privilege status will be the exception rather than the norm. Yet, taxes will be moderate. With the right system in place, every working Liberian will file an income tax-return at the end of each fiscal year and receives financial benefit after necessary deductions are calculated and processed.