The Liberian Senate on Thursday, 3 October concurred with the House of Representatives in passing the National Budget in the tune of US$526 million for fiscal year 2019/2020.The Senate took a unanimous decision Thursday after receiving the instrument this week for its concurrence.The Senate’s decision follows a report from its Committee on Ways, Means, Finance which recommended concurrence with the House on the passage of the National Budget.
The Committee chaired by Bomi County Sen. Morris Saytumah reports that it engaged the Ministry of Finance and Development Planning, Liberia Revenue Authority and other stakeholders to jointly scrutinize the National Budget.
The Committee asked the Senate to concur with the House of Representatives to enact the engross Budget #41 Entitled: “An Act to Approve the Budget for the Fiscal Period July 1, 2019 to June 30, 2020 Provided for the Expenditure of the Government of the Republic of Liberia in the tune of US$526 million United States Dollars or LD$1, 094, 80,000 at the average rate of 208.”
The National Budget for Fiscal Year 2019/2020 was submitted to the Legislature by the Executive Branch of Government in consonance with Article 34 (d) of the Constitution.In line with the International Monetary Fund (IMF), the Liberian Senate has cut 26% of Senators’ salaries which takes effect immediately.
Meanwhile Sen. J. Milton Teahjay of Sinoe County says plenary should mandate the Minister of Finance and Development Planning Samuel D. Tweah, Jr, to report to the Legislature on a quarterly basis how the budget is spent.“It is in the Constitution that the Minister should always do that, but he doesn’t. So he should be mandated to do so this time”, he demands.–Edited by Winston W. Parley