Ben TC Brooks
At the world’s largest conference focused on financing for development held in Seville, Spain, Hon. Tanneh G. Brunson, Liberia’s Deputy Minister for Budget and Development Planning has emphasized the country’s commitment to mobilizing domestic resources amid ongoing challenges.
She said over the past twenty years, Liberia has encountered numerous obstacles, including civil unrest, fluctuations in global market prices, and the repercussions of the COVID-19 pandemic.
Minister Brunson outlined a recovery strategy aimed at bolstering the nation’s revenue-generating capacities.
She stressed the importance of reinforcing domestic financial systems by enhancing local tax collection efforts and diversifying revenue streams.
Brunson proposed the introduction of additional income taxes, excise duties, and other fiscal strategies, advocating for collaborations with international partners, particularly the International Monetary Fund, as a beneficial approach.
Liberia plans to optimize resource utilization by digitizing taxpayer registration and improving tax compliance, which she identified as essential for cultivating a sustainable economic landscape.
During her address at the financing for development conference, the Liberian delegate acknowledged the significance of addressing the informal sector through efficient tax administration and legal reforms to boost compliance and accountability.
Moreover, she noted the government’s efforts to strengthen public services by ensuring adequate funding for essential facilities, such as sanitation in schools, while recognizing that external funding sources are frequently insufficient.
The Country Budget and Development Planning Deputy Minister Tanneh G. Brunson highlighted the necessity for strategic policy-making and collaboration with civil society to enhance service delivery and effectively leverage Liberia’s rich natural resources effectively
As these measures progress, the hope is to create a more resilient economic framework that benefits all sectors of society.
