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Finance Ministry submits US$692 Million draft budget for 2024

The Boakai administration has submitted its first draft national budget for fiscal period 2024, totaling US$692 million, to the House of Representatives of the 55th Legislature for scrutiny and subsequent enactment into law. 

By Bridgett Milton

Monrovia, Liberia, March 17, 2024—Following much delay, the Ministry of Finance and Development Planning has submitted the draft national budget for 2024 to the House of Representatives, amounting to Six Hundred and Ninety-two Million United States Dollars (US$692M).

Finance Minister Boimah Kamara and his three Deputies submitted the draft budget last week, marking a crucial step in the nation’s fiscal planning and governance.

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It may be recalled that Bong County District #6 Representative Moima Briggs Mensah wrote the Plenary of the House of Representatives recently, raising a red flag over the delay of the draft budget without any formal communication from the Executive.

According to Rep. Mensah, the Minister of Finance and Development Planning needed to explain to that august body the reasons for the delay in submitting the 2024 National Fiscal Budget.

“Speaker and Colleagues, resulting out of communication from the Co-Chair on Ways, Means and Finance Committee, Hon. Ellen Attoh Wreh, and in the spirit of coordination, the House of

Representatives unanimously voted to send back the 2024 national fiscal Budget to the Executive for proper adjustment and realignment in order to suit the President’s 100-day deliverables and arrest platform for the collective achievement of our nation. Still, unfortunately, the ministry has ignored the Thursday, February 15th, 2024, mandatory date associated with the budget submission as communicated to the Ministry of Finance Development and Planning by the House of Representatives”, she wrote.

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She said President Boakai’s vision, “ARREST” (Agriculture, Roads, Rule of Law, Education, Sanitation, and Tourism), is the path for the country’s development, and as such, its earlier implementation depends on the submission of the 2024 fiscal budget.

During the handover ceremony held on Thursday, 14 March, at the Capitol Building in Monrovia, Deputy Speaker Thomas Fallah received the budget on behalf of the House of Representatives.

Representative Fallah noted that despite the House of Representatives’ current first-quarter break, the Committee on Ways, Means, and Finance will review the budget during the break period. 

Deputy Speaker Fallah emphasized the importance of crafting a budget that prioritizes the needs of ordinary citizens across the country. He expressed hope that the budgetary allocations would reflect the aspirations and concerns of Liberians from all walks of life.

The submission of the draft national budget underscores the government’s commitment to responsible financial management and inclusive development.

Meanwhile, the House of Representatives of the 55th Legislature on Thursday, March 14, 2023, adjourned its first Quarter of the first Session, which ran from January 15, 2024, to March 14, 2024.

According to Deputy Speaker Fallah for the former ruling CDC, during the first quarter, 32 sessions were held, with 12 appearances, four bills introduced, one bill in the Committee room, and one Petition in the Committee room. 

He said the total of three bills were passed, including one executive Bill.

At the same time, the Deputy Speaker called on his fellow legislators to prioritize the Liberian people’s interests.

“Distinguished Colleagues, I will be remiss if I don’t openly commend you for your role in helping to meet the people’s needs by demonstrating good practices and facilitating community development through various interactions and social cohesion.”

The first Quarter break is expected to run from 14 March to 2nd Friday of May 2024. Editing by Jonathan Browne

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  1. I will appreciate the draft of the budget be available here too…

  2. Could you attach copy of the draft national budget? This will really help us as readers.

  3. We welcome this first new draft 2024 instrument of new administration after the CDC gangs headed by former finance minister had struggled to undermine this new administration. We know this new administration will do better in the interest of its people in the coming years.

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