The Majority Bloc of the House of Representatives has approved the 2025 Draft National Budget, totaling $880 million. This approval is now subject to Senate concurrence, which will determine the final fiscal framework for Liberia’s government, impacting all ministries and agencies.
Originally proposed at $851 million, the budget saw an increase following thorough evaluations and adjustments during legislative hearings.
The Senate is currently reviewing the proposed budget, with the revenue component having been completed just three days ago. Should the Senate propose a different figure, a conference committee will be formed to reconcile the differences between the two legislative chambers.
On Monday, November 18, 2024, President Joseph Nyuma Boakai formally submitted the Draft National Budget for Fiscal Year 2025 to the National Legislature, which initially totaled $851.8 million.
Delivered through the Chief Clerk to the House of Representatives, this submission kickstarted the legislative review process. The budget reflects key priorities under the ARREST Agenda for Inclusive Development (AAID), which includes addressing critical government obligations such as debt servicing, infrastructure development, and economic stability.
The proposed 2025 budget represents a 15.3% increase over the 2024 Recast Budget of $738.9 million, signaling the administration’s commitment to promoting growth despite global economic challenges.
The draft budget is composed of two major components: Core Revenue of $833 million and Contingent Revenue of $18.8 million. These funds are allocated to sustain government operations and advance development programs within the framework of the ARREST Agenda.
Notably, tax revenue in the draft budget amounts to $633.72 million, making up 80% of domestic revenue, while non-tax revenue is set at $138.5 million, or 17.4%. External resources total $60 million, representing 7% of the overall budget, sourced from the World Bank ($40 million) and the European Union ($20 million). This marks a 50% increase in external resources compared to the FY2024 budget.
