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Liberian President Weah Pledges Salary Cut as Economy Stalls

Liberian President Weah Pledges Salary Cut as Economy Stutters

(Bloomberg) -- Liberia’s new president, former soccer star George Weah, pledged to cut his salary and change the constitution to allow foreign investors to own land as the West African nation’s economy struggles to recover from the worst-ever outbreak of Ebola.

Weah will reduce his pay and benefits by a quarter, he told lawmakers Monday in the capital, Monrovia, in his first state-of-the-nation address since winning a runoff in December to take over from Ellen Johnson Sirleaf. The government’s income dropped 13 percent to $489.1 million in 2017 from the year before, he said.

“The state of the economy that my administration has inherited leaves a lot to be desired,” he said. “This is plain for all to see. We’re all affected by it.”

Weah also announced he wants to remove “racist and inappropriate” clauses in the constitution that bar white people from obtaining citizenship and foreigners from owning land. Founded for freed American slaves almost 200 years ago, Liberia only allows “people of color” to become citizens. Weah said foreigners who want to invest in Liberia should be able to own property.

After averaging economic growth of about 8 percent from 2006 to 2013, Liberia’s economic fortunes plummeted as a more than yearlong Ebola outbreak at its peak infected as many as 400 people a week and killed thousands. Gross domestic product contracted by 1.6 percent in 2016, according to World Bank data.

Starting a road and highway construction project across the densely forested country will be another priority of the incoming government. At an estimated cost of $3 billion, the project will be “very challenging, but I am convinced that, with the assistance of friendly governments and institutions, this can be achieved before the end of my tenure,” Weah said.

To contact the reporter on this story: Festus Poquie in Monrovia at fpoqie@bloomberg.net.

To contact the editors responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net, Andre Janse van Vuuren, Ana Monteiro

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