Liberia's president cuts own salary to help economy

30 Jan 18

Liberia’s newly sworn-in president has pledged to cut his own salary by 25% to fix the country’s “broken” economy. 

George Weah, president of Liberia

The new president George Weah [pictured right], a former soccer star, pledged to cut his pay and benefits by a quarter after the government’s revenue declines last year as it recovers from the Ebola outbreaks.

The government’s revenue declined by 13% in 2017 from the year before, he said at his first nationwide address since winning presidency in December.

“The state of the economy that my administration has inherited leaves a lot to be desired.

“This is plain for all to see. We’re all affected by it,” he said.

Between 2006 and 2013, the average economic growth was about 8% in the country but has dropped following the Ebola outbreaks, which have resulted in more than 11,200 deaths in the country and neighbouring countries Sierra Leone and Guinea.

 The president said: “Our economy is broken; our government is broke. Our currency is in free fall; inflation is rising.

“Unemployment is at an unprecedented high and our foreign reserves are at an all-time low.”

Weah promised to crackdown on corruption as he was sworn in last week.

The president of Liberia receives a salary of approximately $100,000 a year, meaning Weah will take a $25,000 cut to his pay. 

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