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Friday, July 19, 2024

MFDP PUBLISHES $738.86 MILLION NATIONAL BUDGET AMIDST CRITICISM

Date:

MONROVIA, LIBERIA – As required by the amended 2019 Public Financial Management (PFM) Law, the Government of Liberia, through the Ministry of Finance and Development Planning (MFDP), on Monday, July 1, 2024, published the national budget amounting to Seven hundred thirty-eight million, eight hundred fifty-nine thousand, eight hundred twenty-seven dollars and zero cents (US$738,859,827.00) following months of criticism from the public.

President Boakai signed the approved 2024 national budget on May 8, 2024, with an adjusted revenue envelope totaling $738,859,827, up from the initially proposed $692,408,827. This adjustment represents an increase of $46,451,000. Despite the budget being printed into handbill on May 16, 2024, it had not been made public, violating legal requirements for transparency.

The budget covers the Fiscal Year beginning January 1, 2024, and ending December 31, 2024. The delay in publication has sparked significant public outcry, emphasizing the need for greater transparency in governmental financial activities. The release of the budget is a critical step towards addressing these concerns and ensuring that citizens are informed about how public funds are allocated and spent.

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