The Liberian Senate has made a decision, calling for a joint hearing between it and the House of Representatives to address the first draft national budget of the Boakai’s Administration.
Senate Plenary on today , April 2, 2024, first day of their special session mandated its committees on Ways, Means and Finance and Public Accounts to work along with the House of the Representatives for further scrutiny.
The two committees are expected to develop the pathline of the budget and determine the stipulated date of the joint hearing.
It can be recalled, President Joseph N. Boakai made a presentation of his government’s maiden national budget for the year 2024, amounting to US$690.2 million, for consideration by the House of Representatives prior to their adjournment for constituency break.
The budget submission was made by the Ministry of Finance and Development Planning, led by Finance Minister Boima S. Kamara, Deputy Minister Anthony Myers, and Deputy Minister Tanneh G. Brunson. The budget highlights a reliance on domestic revenue, with a small portion coming from external sources.
On behalf of the President, the Finance Ministry officials on Thursday, March 14 submitted the budget to the House of Representatives in accordance with the 2009 Public Finance Management Law.
The budget which marks a crucial step in the fiscal planning and governance of the nation, will be the first financial tool for the new Unity Party led administration when passed by the 55th Legislature.
During the Presentation, Deputy Minister Myers said 93% of the budget is based on domestic revenue while about seven 7% comes from external sources.
Meanwhile, Deputy Minister Brunson noted that compensation has been reduced from US$305m to US$297.
The House through Deputy Speaker Thomas Fallah accepted the budget on behalf of the House of Representatives as it was being reviewed while on break.
It is expected that the budget will align with President Boakai’s vision for the country, which is attained in the acronym “ARREST” Agenda (Agriculture, Roads, Rule of Law, Education, Sanitation, Tourism), and emphasize key areas for development.
It is, however, evident that the submission of the 2024 national budget is overdue, as it should have been done since last December.
However, the 54th Legislature saw it prudent that the scrutiny and passage of the budget submitted by the George Weah administration should be done by the new government, as the transition was just a few weeks away.
It was against this backdrop that members of the 55th National Legislature, specifically the House of Representatives, unanimously voted in early January to return the 2024 National Draft Budget to the newly inducted President for realignment on his agenda.
