By Jamesetta D Williams
MONROVIA-The Liberian government is setting an ambitious target of US$ 1bn(One billion United States dollars) for the upcoming national budgets, according to Information Minister Jerolinmek Piah.
He disclosed this to reporters following the end of a special cabinet meeting chaired by President Joseph Boakai at the Executive Mansion on Thursday – August 15, 2024. He said, the Boakai-Koung administration is committed to fiscal growth.
The special meeting was attended by Vice President Jeremiah Koung, Agriculture Minister Alexander Neautah, Commerce Minister Amin Modad, and others.
“The government is targeting a national budget of US$1bn for the upcoming fiscal year,” Minister Piah announced while explaining significance of this move.
He revealed that the Liberia Revenue Authority (LRA) Commissioner General, Dorbor Jallah delivered a comprehensive presentation during the meeting, focusing on the strategies necessary to enhance revenue collection and meet this unprecedented budget target.
He said Commissioner Jallah also requested the government’s full support in achieving this ambitious projection, highlighting the importance of collaboration between the LRA and various government agencies to reach the US$1bn goal.
Minister Piah conveyed President Boakai’s emphasis on fiscal responsibility and the need to strengthen the state’s revenue streams.
“The President has urged the LRA and other relevant agencies to intensify their efforts in areas such as tax collection and customs duties, which are critical to supporting Liberia’s national development agenda,” Piah stated.
Liberia has no record of national budget reaching the US$1bn mark.
However the Boakai administration is eyeing this record with strong focus on revenue enhancement, improved public financial management, and strategic investments in key sectors like infrastructure, health, education, and agriculture or the ARREST Agenda.
Liberia’s previous national budgets have fallen short of this billion-dollar milestone, with the recent FY 2021/2022 budget standing at approximately US$785.6 million, and the FY 2022/2023 budget around US$806.5 million.
Minister Piah also stated that the Boakai administration’s approach is not just about reaching a numerical target, but about ensuring that the budget is reflective of Liberia’s growth ambitions.
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