House Speaker Cllr. J. Fonati Koffa has seized a motion intended to allow the August Body scrutinize the draft recast budget.
This comes amidst allegations of the altercation of the passed 2024 National Budget.
The decision remains in effect until the Special Investigative Committee, led by Representative Robert Wongbe of Bong County, submits its investigative report.
In his address, Thursday, 29 August, during the first day of the special session, Speaker Koffa emphasized that this measure is in line with the House’s commitment to promoting transparency and accountability within governance system of Liberia.
There has a been growing wave of discussions around the table concerning this alleged fiscal malpractice with lawmakers and other national stakeholders raising serious concern.
These concerns led to the speaker officially disclosing plan to do an investigation.
In fulfilment of this stance, the Speaker has seized the motion aimed at scrutinizing the draft national recast budget submitted by the Executive Branch of Government.
The Speaker of the 55th Legislature who assured the public that the House remains dedicated to being open and accountable to the people of Liberia, expressed commitment that the investigation will reach a logical conclusion before further action is taken on the recast budget.
“The scrutiny of the budget is a crucial process, and it is our responsibility to ensure that it is conducted with the utmost integrity and transparency. We will not proceed with any budget scrutiny until the Wongbe’s Special Investigative Committee completes its investigation and delivers its findings,” stated Speaker Koffa.
President Joseph N. Boakai via the Ministry of Finance and Development Planing (MFDP) earlier this Month forwarded the Draft Recast Budget for Fiscal Year 2024, totaling $738.8 million, to the Legislature.
The submission done by the Ministry of Finance and Development Planning was made on August 16, and presented by Acting Finance Minister Anthony Myers, who noted that the revision is necessitated by a review of the budget’s performance in the first half of the year.
The aim Is to recalibrate the budget to better align with revenue realities while safeguarding critical national expenditures.
In a communication from President Boakai to House Speaker Cllr. J. Fonati Koffa, it was stated that the proposed budget envelope for FY2024 is anchored on a risk-adjusted portfolio amounting to $721.5 million.
An additional $17.3 million is expected to be generated through several revenue-enhancing measures, including the increment of the Goods and Services Tax (GST) on certain items with minimal social impact, an increase in non-concessional mineral royalties, the issuance of an executive order imposing surcharges on imports competing with domestic production, and the sale of debt instruments.
The recast budget proposes an expenditure breakdown where $672.3 million, approximately 91%, is allocated to recurrent spending, while $66.6 million, or 9%, is designated for the Public Sector Investment Plan (PSIP).
Meanwhile House Speaker Cllr. J. Fonati Koffa commended his colleagues for their commitment to return to work under challenging conditions, including working without pay, to serve the interest of the Republic of Liberia.
“The dedication shown by my fellow Representatives in returning to work without compensation is an evidence to their commitment to the welfare of our nation. This is a collective effort to ensure that we fulfill our duties in the best interest of Liberia,” Speaker Koffa told his colleagues.
