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Thursday, May 23, 2024

LIBERIA’S 2024 NATIONAL BUDGET BREAKDOWN: KEY ALLOCATIONS AND SPECIAL INITIATIVES

Date:

MONROVIA – The 2024 National Budget of Liberia has been meticulously structured to address key sectors and special initiatives crucial for the country’s development. Here is a breakdown of the budget allocations:

Total Budget Allocation:

– Initially submitted: USD 692 million

– Revised after legislative approval: USD 738.8 million

Key Sector Allocations:

  1. Municipal Government:

– Draft Budget: $26.7 million USD

– Appropriation: $34.2 million USD

  1. Transparency and Accountability Sector:

– Draft Budget: USD 21.2 million

– Appropriation: USD 22.9 million

  1. Security and Rule of Law Sector:

– Draft Budget: USD 96.1 million

– Appropriation: USD 108.4 million

  1. Health Sector:

– Draft Budget: USD 75.5 million

– Appropriation: USD 79.9 million

– Additional resources: $79 million for referral hospital operations

  1. Social Development Sector:

– Draft Budget: USD 12.3 million

– Appropriation: USD 27.7 million

  1. Education Sector:

– Draft Budget: USD 105 million

– Appropriation: USD 109 million

  1. Energy and Environment Sector:

– Draft Budget: USD 18.2 million

– Appropriation: USD 25.3 million

  1. Agriculture Sector:

– Draft Budget: USD 5.6 million

– Appropriation: USD 9 million

  1. Infrastructure and Basic Services:

– Draft Budget: USD 44.6 million

– Appropriation: USD 53.5 million

  1. Industry and Commerce Sector:

– Draft Budget: USD 6.6 million

– Appropriation: USD 8.2 million

Special Allocations:

– Construction of new CH Rennie Hospital: USD 600,000

– Employment of youths in beach and waterway projects: USD 2 million

– Support for at-risk youths: USD 4 million

– Aid for volunteer teachers: USD 5 million

– Modernization of Robert International Airport: USD 7.5 million

– Cleanliness budgets for Monrovia and Paynesville: USD 1.5 million each

Disaster Relief and Emergency Services:

– National Disaster Management Agency: Increased by USD 2 million

– National Fire Service: USD 3 million for additional fire trucks

Infrastructure and Development:

– National Road Funds allocation: 25% for road equipment in each county

– Promotion of Liberian businesses: 25%

– Addressing electricity constraints: USD 6.1 million allocation

This structured overview provides a clear picture of the budget allocations across various sectors and special initiatives for the fiscal year 2024.

On Thursday, March 14, 2024, the House of Representatives received the draft national budget for 2024 totaling USD $692 million from the Ministry of Finance. The submission was led by Finance Minister Boimah Kamara and his three Deputies.

In a formal handover ceremony, Deputy Speaker Thomas Fallah received the budget on behalf of the House. Despite the current first-quarter break, Deputy Speaker Fallah assured the public that the House’s committee on Ways, Means, and Finance would diligently review the budget during the break period.

Socrates Smythe Saywon
Socrates Smythe Saywon is a Liberian journalist. You can contact me at 0777425285 or 0886946925, or reach out via email at saywonsocrates@smartnewsliberia.com or saywonsocrates3@gmail.com.

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