The International Monetary Fund (IMF) has forecast that Liberia’s economy will expand 7.5 percent this year and economic growth may “rise to double digits” from 2011 to 2013.
This, the IMF said in a statement, is due to the restarting of iron ore mines.
Tax revenue from the iron ore mines is expected to rise to $260 million by 2014, equivalent to 17 percent of gross domestic product, the IMF added.
Mittal Steel and China Union are investing billions of dollars in Liberia’s iron ore sector.
Source African Press Agency
