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FinanceGeneralLiberia news

House passes budget at US$794m.

By Bridgett Milton

The House of Representatives has passed the draft budget for fiscal year 2023 in the tune of US$794,532,682.00 and sent it to the Liberian Senate for further action. 

Thirty-five lawmakers voted for the passage of the budget at the House of Representatives.

On 5 December 2022, the Executive Branch, through the Ministry of Finance and Development Planning (MFDP), submitted to the House of Representatives a proposed National Budget amounting to US$777.94 million.

The Plenary of the House of Representatives took action Tuesday, 21 February 2023 following a report from its Ways, Means and Finance committee.

The Doom of the Capitol Building

The committee said in line with a mandate by the Plenary, it conducted a vigorous and thorough scrutiny of the Draft Budget for Fiscal Year 2023, beginning with the Revenue Envelope.

It added that it conducted hearing with all major revenue-generating agencies including State-owned Enterprises (SOEs).

The committee named the SOEs as the Liberia Telecommunications Authority, Liberia Maritime Authority, National Port Authority, Liberia Petroleum Refining Company, and other revenue-generating Ministries, Agencies and Commissions.

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“Honorable Speaker, Deputy Speaker and distinguished colleagues, considering that there is an urgent need to improve and support the proper collection of government revenues, the committee wishes to inform you that these revenue projections are contingent on a number of factors,” the committee reported.

It said the factors included measures to be taken by the Liberia Revenue Authority and the passage of some legislations by the Legislature.

In these rigorous budget debates, the committee said, ministries and agencies were given the opportunity to defend their draft proposals.

It noted that in cases where it found insufficient information, it formed sub-committees to ensure that the hearing intently looked at the programs in detail so as to ensure value for money.–Edited by Winston W. Parley

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The New Dawn is Liberia’s Truly Independent Newspaper Published by Searchlight Communications Inc. Established on November 16, 2009, with its first hard copy publication on January 22, 2010. The office is located on UN Drive in Monrovia Liberia. The New Dawn is bilingual (both English & French).
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