…As Finance Minister Provides Details on Draft Nat’l Budget
By Jamesetta D Williams
Liberia-Liberia’s draft national budget for Fiscal Year 2025, presented to the Legislature by Finance Minister Augustine Kpehe Ngafuan has set a transformative economic and developmental agenda.
Minister Ngafuan indicated that the drift national budget is projected at US$851.8 million, representing a 15.3% increment over the previous year.
He disclosed that the budget is driven by enhanced domestic tax collections with a focus on fostering robust economic growth, supported by a GDP growth forecast of 5.8% for 2025, anchored by sectors such as agriculture, mining, and manufacturing.
Speaking at the Ministry of Information on Tuesday, November 19, 2024, Minister Ngafuan said the Public Sector Investment Program (PSIP) allocation sees a substantial 54% increase, with US$98 million.
According to him, the funds will support the Government’s ARREST Agenda for Inclusive Development that runs from (2025 to 2029), including a multi-sector strategy for nationwide transformation.
He further disclosed that the budget will focus on key development agenda of the government including road infrastructure with US$52.9 million to enhance connectivity and spur economic activity,
Agricultural Value-Chain Programs mounts to US$7 million to modernize agriculture and boost productivity, while health and sanitation amount to US$14 million to strengthen public health systems and improve sanitation services as well as the Public Sector Wage Reform with a projection of US$16 million earmarked to increase salaries for teachers, health workers, and police officers.
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