Liberia Collects Record US$1 Billion in Domestic Revenue

President Joseph Nyuma Boakai Sr. announced that Liberia collected over US$1 billion in domestic revenue during the first nine months of 2026, marking the first time in the nation's 179-year history that such a milestone was reached without foreign aid or borrowing. This figure represents a 63 percent increase over 2023 levels, which were approximately US$612 million. The administration attributed the growth to digitalization, broadened tax bases, and reforms led by the Ministry of Finance and Development Planning and the Liberia Revenue Authority.

President Boakai stated the government is now targeting US$1.3 billion by the end of the fiscal year. He outlined plans to use the funds for public infrastructure, renovating the University of Liberia, providing medical equipment to hospitals, and reversing salary harmonization for public sector workers. The administration also intends to place 3,400 volunteer workers on the payroll and establish a Special Purpose Vehicle to provide affordable financing for Liberian-owned businesses.

While government officials praised the achievement, the milestone drew criticism from the opposition. Matthew Young of the Congress for Democratic Change argued that the revenue has not provided relief for ordinary citizens, claiming that 80 percent of the funds are spent on government recurrent expenditures rather than social impact programs to reduce poverty. Minister of Finance and Development Planning Augustine Kpehe Ngafuan acknowledged that the success should be measured by how resources improve citizens' lives rather than by statistical totals.