MONROVIA-His Excellency President Joseph Nyuma Boakai, Sr. has presented the Fiscal Year 2025 Draft National Budget, totaling US$851.8 million, to the National Legislature. The budget consists of Core Revenue of US$833 million and Contingent Revenue of US$18.8 million. This represents a 15.3% increase over the 2024 Recast Budget of US$738.9 million.
A statement from the Ministry of Information Monday said, the budget focuses on funding priorities aligned with the ARREST Agenda for Inclusive Development (AAID), addressing debt service obligations, and ensuring continued governmental operations. President Boakai emphasized the importance of prompt legislative review and approval to facilitate smooth implementation starting January 2025.
The submission complies with Section 17.1 of the 2019 Amendment and Restatement of the Public Financial Management Act of 2009.
The Minister of Finance and Development Planning, Honorable Augustine Kpehe Ngafuan, will provide further details on the draft budget during a press briefing hosted by the Ministry of Information, Cultural Affairs, and Tourism on Tuesday, November 19, 2024, at 12:00 noon. The statement did not specify which group the budget was submitted to.
It said the Chief Clerk received the budget to submit to the leadership. There is confusion at the legislature. About 43 makers out of 73 are calling for the resignation of the speaker due to the lack of confidence.
But the speaker said, their legislative law, it provides two third to unseat him. But in the absence of that, he said, he will not resign. The Chief Clerk, receives all documents for onward submission to the speaker. But she is on sick leave according to co-workers. Her deputy is with the majority bloc. It is believed that the draft budget will be given to the majority bloc.
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