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Finance submits special National budget

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The Ministry of Finance and Development Planning on Tuesday, 25 May presented to the Legislature a Special Draft National Budget of US$301.5m. The draft special National Budget runs from 1 July 2021 to 31 December 2021. Presenting the budget, Deputy Finance Minister for Fiscal Affairs Samore Wolokolie explained that in 2009, the Budget Law was amended for a change in fiscal year and for a formation of a special national budget to pave the way for a transition to the new fascal year which begins 2022.

According to him, this special draft national budget like any other, shows how monies have been collected or will be spent on the public, government and services, adding ”this special budget provides the summary of the Liberian economy.”Wolokollie said the framework paper of the six – month budget is expected to have a growth projected at 3.2 percent.

Additionally, Minister Wolokolie noted that particular allocation to the road fund and key investment areas are targeted to include the Ganta – Saclepea Corridor and the Roberts International Airport (RIA) runway and the operated cost of the national road fund. According to him, government has transferred the total of US$19.3 million to education, among others. For his Part, House Speaker Bholaf Chambers thanked the Executive for the submission of the budget.

By Bridgett Milton–Edited by Winston W. Parley

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