Following a peak in growth in 1979, the Liberian economy began a steady decline due to economic mismanagement following the 1980 coup. This decline was accelerated by the outbreak of civil war in 1989; GDP was reduced by an estimated 90% between 1989 and 1995, one of the fastest declines in history. Upon the end of the war in 2003, GDP growth began to accelerate, reaching 9.4% in 2007. The global financial crisis slowed GDP growth to 4.6% in 2009, though a strengthening agricultural sector led by rubber and timber exports increased growth to 5.1% in 2010 and an expected 7.3% in 2011, making the economy one of the 20 fastest growing in the world. COUNT 5
QSN1 When did the Liberian economy hit it's peak growth? ANS1 1979 QSN2 By what percentage did Liberia's GDP reduced by during the civil war? ANS2 90% QSN3 Why did the Liberian economy decline after 1980? ANS3 economic mismanagement following the 1980 coup. QSN4 Why was Liberia's GDP growth stalled in 2007? ANS4 The global financial crisis QSN5 In 2011 Liberia's economy was considered what? ANS5 one of the 20 fastest growing in the world.