{"id":1937,"date":"2022-01-30T18:54:14","date_gmt":"2022-01-30T18:54:14","guid":{"rendered":"https:\/\/stage.thedaylight.org\/wp68\/?p=1937"},"modified":"2022-01-30T18:54:17","modified_gmt":"2022-01-30T18:54:17","slug":"extractive-sector-sidelined-in-annual-address","status":"publish","type":"post","link":"https:\/\/stage.thedaylight.org\/wp68\/2022\/01\/30\/extractive-sector-sidelined-in-annual-address\/","title":{"rendered":"Extractive Sector Sidelined in Annual Address"},"content":{"rendered":"\n

Top: A pile of logs in Zorzor, Lofa County. The DayLight\/James Harding Giahyue<\/em><\/p>\n\n\n\n

\n\n\n\n

By Varney Kamara<\/strong><\/p>\n\n\n\n

MONROVIA – President George Weah sidestepped the extractive sector in the State of the Nation Address last week, the biggest contributor to the government\u2019s revenue envelope.<\/p>\n\n\n\n

The extractive sector is expected to be the chief contributor to Liberia\u2019s projected economic growth rate of 3.6 percent, according to the World Bank.<\/p>\n\n\n\n

But in his speech to the Legislature, lasting for more than two hours and thirty minutes and dominated by infrastructural projects, \u00a0Weah spent barely five minutes talking about agriculture and energy. There were no mentions of mining, forestry, or oil\/gas.<\/p>\n\n\n\n

The extractive sector accounts for the largest share of Liberia\u2019s gross domestic product (GDP) annually. It accounted for US$79.6 million<\/a> in 2018\/2019, according to Liberia Extractive Industries Transparency Initiative (LEITI) in its latest report. Mining contributed US$42,596,473 or 53.49% to the economy, followed by the agriculture US$26,009,261 or 32.66%, forestry US$8,148,559 (10%) and oil\/gas US$2,878,411 (3%). \u00a0<\/p>\n\n\n\n

Weah spent most of the time of the speech on the economy. \u201cAlthough the state of our economy is challenged, the fundamentals remain sound and strong,\u201d he told lawmakers, to huge applause. \u201cThe state of our economy is stable, and the nation is peaceful.\u201d  <\/p>\n\n\n\n

The President inaccurately cited the World Bank\u2019s report on the country\u2019s economic growth projection. The Bank made a projection of 3.6% growth but not an actual growth as he told the nation. He apparently deliberately left out the grim portion of the World Bank\u2019s estimate.<\/p>\n\n\n\n

\u201cLiberia\u2019s economy is rebounding after contracting for two consecutive years.\u00a0Real GDP growth is projected at 3.6% in 2021, allowing per capita GDP to increase for the first time since 2016,\u201d the bank had estimated at the close of 2020. \u201cNevertheless, poverty is expected to slightly increase as per capita consumption continues to contract, with the growth being driven by export of commodities.\u201d \u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Top: A pile of logs in Zorzor, Lofa County. The DayLight\/James Harding Giahyue By Varney Kamara MONROVIA – President George Weah sidestepped the extractive sector in the State of the Nation Address last week, the biggest contributor to the government\u2019s revenue envelope. The extractive sector is expected to be the chief contributor to Liberia\u2019s projected […]<\/p>\n","protected":false},"author":6,"featured_media":1939,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"give_campaign_id":0,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[4,46,6],"tags":[],"class_list":["post-1937","post","type-post","status-publish","format-standard","has-post-thumbnail","category-agriculture","category-energy","category-extractive"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\n","aioseo_head_json":{"title":"Extractive Sector Sidelined in Annual Address - The DayLight","description":"Top: A pile of logs in Zorzor, Lofa County. 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\n\t\t\tHome<\/a>\n\t\t<\/span>\u00bb<\/span>\n\t\t\tEnvironment<\/a>\n\t\t<\/span>\u00bb<\/span>\n\t\t\tEnergy<\/a>\n\t\t<\/span>\u00bb<\/span>\n\t\t\tExtractive Sector Sidelined in Annual Address\n\t\t<\/span><\/div>","aioseo_breadcrumb_json":[{"label":"Home","link":"https:\/\/stage.thedaylight.org\/wp68"},{"label":"Environment","link":"https:\/\/stage.thedaylight.org\/wp68\/category\/environment\/"},{"label":"Energy","link":"https:\/\/stage.thedaylight.org\/wp68\/category\/environment\/energy\/"},{"label":"Extractive Sector Sidelined in Annual Address","link":"https:\/\/stage.thedaylight.org\/wp68\/2022\/01\/30\/extractive-sector-sidelined-in-annual-address\/"}],"_links":{"self":[{"href":"https:\/\/stage.thedaylight.org\/wp68\/wp-json\/wp\/v2\/posts\/1937","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stage.thedaylight.org\/wp68\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stage.thedaylight.org\/wp68\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stage.thedaylight.org\/wp68\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/stage.thedaylight.org\/wp68\/wp-json\/wp\/v2\/comments?post=1937"}],"version-history":[{"count":1,"href":"https:\/\/stage.thedaylight.org\/wp68\/wp-json\/wp\/v2\/posts\/1937\/revisions"}],"predecessor-version":[{"id":1940,"href":"https:\/\/stage.thedaylight.org\/wp68\/wp-json\/wp\/v2\/posts\/1937\/revisions\/1940"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stage.thedaylight.org\/wp68\/wp-json\/wp\/v2\/media\/1939"}],"wp:attachment":[{"href":"https:\/\/stage.thedaylight.org\/wp68\/wp-json\/wp\/v2\/media?parent=1937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stage.thedaylight.org\/wp68\/wp-json\/wp\/v2\/categories?post=1937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stage.thedaylight.org\/wp68\/wp-json\/wp\/v2\/tags?post=1937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}