By: Dr Mory Sumaworo
Monrovia, Liberia – Liberian businessman, academic, and policy expert Dr. Mory Sumaworo has stated that while the nation’s economy is supposedly capitalist, it actually operates more like a socialist or communist one. He pointed out that the narrative needs to be changed.
According to Dr Sumaworo, capital projects like building roads, infrastructure, and healthcare systems, as well as strengthening the private sector, receive a very little portion of the government’s budget. He asserts that continuing costs account for the majority of the budget.
Dr. Sumaworo continued by pointing out that although the private sector has not been attractive due to policies implemented to efficiently create jobs and boost the nation’s economy, the government is currently Liberia’s largest employer.
These remarks were made during the Unity Team program, which featured an outstanding collection along with a group of Liberian business executives and entrepreneurs in the mining and extractive industries. He gave a general speech on the value of business executives working together and the role that the private sector plays in economic expansion.
