His office said he hoped to set a precedent for “responsible governance” and demonstrate “solidarity” with Liberians.

Government salaries have been under intense scrutiny recently as Liberians complain about the rising cost of living. Around one in five people live on less than $2 (£1.70) a day in the West African state.

Mr Boakai revealed in February that his annual salary was $13,400. The cut will bring it down to $8,000.

Mr Boakai’s move echoes that of his predecessor, George Weah, who took a 25% cut in his salary.

Mr Boakai took office in January after defeating Mr Weah in a run-off election.

He vowed to tackle corruption and financial mismanagement.

As well as declaring his assets since taking office, Mr Boakai has ordered an audit of the presidential office. The results have not yet been released.

Mr Boakai has also beefed up the General Auditing Commission and the Liberia Anti-Corruption Commission.

Mr Weah’s government was plagued by allegations of corruption, and lavish spending, which triggered mass protests as the cost of living spiralled for ordinary people.