Politics News

Cabinet endorses $604m draft budget

Finance NDThe Liberian Cabinet has unanimously endorsed the 2015/2016 drafted National Budget of US$604 million presented by the Ministry of Finance and Development Planning (MFDP) at its sitting in Monrovia, the Executive Mansion says.

A release dated May 30 says the Cabinet took the decision after carefully considering the overall objectives the National Budget seeks to achieve in the realization of government’s most critical development agenda.

At the end of the two- paragraph release, the Executive Mansion however says more details will emerge shortly.

A citizen’s guide to budget published by government explains that each year, the government works out how much money it has to spend, and how it is going to spend it.

Liberia’s budgetary period begins on July 1 each year, and ends the next year on June 30 – known as “the Fiscal Year.”

The final decision on what is included in the budget and how funds are allocated ultimately rests with the President and the Legislature. Press Release

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