Vision
To become the key department in deriving total and sustained national development through sound economic planning and policy development, and accountability through program evaluation and monitoring.

Mission
To institutionalize an empirical and sustainable national development framework through sound research and policy development.

Core Functions
The Department of Economic Affairs & Policy derives its mandate from the Executive Law that created the Ministry of Planning & Economics Affairs (MPEA) and also from the three-year Strategic Plan of the Ministry.

These core functions herein referred to as service lines include the following:

CFI: National Economic Development Policy and Planning

• Undertake economic studies for planning and economic policy
• Prepare long-range and intermediate-range economic development plans

CFII: National Development Coordination and Management

• Analyze the interrelationship and internal consistency of various proposed programs and projects
• Review progress made on all programs and projects which have been adopted, and report findings and recommendations to the Executive Committee of the National Planning Council
• Undertake all staff activities incidental to the National Planning Council deliberations

CFIII: External Support Monitoring and Coordination

• Review, coordinate the process and record all external aid and assistance programs (in consultation with the Ministry of Finance)
• Report on progress of these (external aid) on the (national development) programs

Strategic Focus
Beyond the core functions, the Ministry’s Strategic Plan calls for areas of internal and external focus aimed at achieving the maximum impact in revitalizing the Ministry and refocusing its activities on the existing national agenda, “Lift Liberia”, the Poverty Reduction Strategy.

In this regards, the Department’s strategic focus will be as follows:

SFI: Enhanced Capacity and Work Processes for Productivity and Service Delivery

• Recruit and train additional staff: economics, mathematics and computer science
• Establish an National Economic Growth and Poverty observatory laboratory
• Develop and implement baseline and performance management framework within the National Civil Service Reform Strategy

SFII: PRS Monitoring & Evaluation, Socioeconomic Analysis and Reporting

• Develop a socioeconomic analysis framework and indicators
• Track PRS deliverables for accurate reporting
• Develop an M&E framework to evaluate PRS, CDA,s, and NGO activities and implementations
• Produce quarterly economic reports (in conjunction with LISGIS)
• Strengthen relationships with civil society, donors and agencies in coordinating the implementation of development programs and projects.
• Develop a long-term growth strategy for Liberia.

SFIII: Effective Partnerships (internal and external)

• Foster harmonization and alignment of partner activities
• Implement revised NGO Policy
• Reinvigorate ECOWAS Unit
• Monitor the MCC Threshold to Compact implementation of Liberia in partnership with USAID.
• Promote the harmonization and convergence of sub-regional economies.
• Form strategic partnership on economic and growth strategy with World Bank.

SFIV: Mainstreaming ICT for Development

• Facilitate the establishment of national ICT for development committee
• Providing guidance and leadership in the development of a policy around the use of ICT for Development (ICT4D) in conjunction with the Ministry of Post & Telecommunication.