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Liberia, Economy

principal port, government income, vocational training programs, iron ore, Civil war

Civil war destroyed much of the economy of Liberia, particularly the infrastructure in and around Monrovia. Prior to the war the country had encouraged foreign investment in the development of its rich natural resources, mainly rubber, iron ore, and timber; many investors have since departed. With 72 percent of the labor force engaged in agriculture and forestry, the government had undertaken educational and vocational training programs to encourage the development of other sectors. Those programs, too, were stopped by the war. In the late 1980s the annual budget showed revenues of $217 million and current and development expenditures of $248 million; by 1993 government income had been reduced to small revenues from registering merchant shipping. The principal port in Buchanan reopened in mid-1993, and the export of rubber and timber resumed.

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Article key phrases:

principal port, government income, vocational training programs, iron ore, Civil war, labor force, Monrovia, foreign investment, Buchanan, forestry, annual budget, timber, agriculture, infrastructure, percent, investors, country, sectors

 
 

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