[bsa_pro_ad_space id=1]

GeneralLiberia news

Senate concurs on passage of 2024 National Budget

Senate concurs with House of Representatives in the passage of FY2024 National Budget.

By Ethel A Tweh

Capitol Hill, Liberia, May 3, 2024—The Liberian Senate’s plenary unanimously concurred with the House of Representatives in passing the 2024 National Budget, totaling US$738,859,827.

The passage by the Senate during the final sitting of the special session includes adjustments and the discovery of an additional revenue envelope of US$46,451,000.

In his report before the Senate’s concurrence, the Chairperson of the committee on Ways, Means, Finance and Budget, Bong County Senator Prince K. Moye, disclosed that there was an adjustment made to domestic debt obligations, creating a net fiscal space of US$ 96,101,000.

According to Chairman Moye, key considerations were given to Social Development, US$15.5million; Security and Rule of Law, US$12.3 million; Infrastructure and Basic Services, US$ 8.9 million; Municipal Government, US$7.4 million; Energy and Environment, US$7.1 million; Agriculture, US$3.4million; Education US$3.3 million; Transparency and Accountability, US$1.7million, including Industry and Commerce, US$1.6 Million, and US$4million for rehabilitation of disadvantaged youth, respectively. 

Senators expressed concerns over Budget misuse during their individual input on the national envelope. They vowed to strengthen oversight to ensure it serves the Liberian State’s and citizenry’s best interests.

The 2024 fiscal envelope, which is itemized, will ensure the allotment of 25 percent of the Road Fund to purchase road equipment for all counties for maintenance purposes.

[bsa_pro_ad_space id=1]

Accordingly, the Ministry of Finance and Development Planning shall present all revenue collected from the road fund to the road authority, of which 5% shall be for the administration of the Road Fund. 

As the Government takes a key interest in road reconstruction consistent with the ARREST agenda, the Ministry of Public Works must send a comprehensive list of all roads to be done under this budget within fifteen days to the Legislature through the Legislative Budget Office for approval.

Meanwhile, the budget will ensure that the procurement of Government vehicles, including the President, Vice President, Speaker, President pro Tempore, Deputy Speaker, and Chief Justice, does not exceed forty-five thousand United States dollars.

The Legislature desires to ensure a smooth execution of the county development funds, so it requires that all social development funds (SDF), including land rental fees, be transferred to the affected county escrow account.

The passage of the 2024 National Budget was one of the imperative reasons for the recall of the Legislature by President Joseph N. Boakai for a one-month special session. Editing by Jonathan Browne

[bsa_pro_ad_space id=1] [bsa_pro_ad_space id=2] [bsa_pro_ad_space id=3] [bsa_pro_ad_space id=4] [bsa_pro_ad_space id=5] [bsa_pro_ad_space id=6]

Leave a Reply

Your email address will not be published. Required fields are marked *

twelve − four =

Back to top button