CAPITOL HILL, MONROVIA — President Joseph Nyuma Boakai, through the Ministry of Finance and Development Planning (MFDP), on Friday, November 7, 2025, submitted the Draft National Budget for Fiscal Year 2026 to the National Legislature, amounting to US$1,211,085,227. The document was formally delivered to House Speaker Richard Nagbe Koon by Finance and Development Planning Minister Augustine Kpehe Ngafuan during a ceremony at the Capitol Building.
Speaking during the presentation, Minister Ngafuan said the draft budget reflects the administration’s fiscal direction for the coming year, shaped by the performance of the ongoing budget cycle and driven by priorities aimed at strengthening state institutions and accelerating development. “It is my distinguished honor to present the draft budget for FY 2026. This submission is informed by the budget’s performance over the first six months of the fiscal year, addressing revenue outcomes and prioritizing critical expenditures for the country,” Ngafuan stated.
He explained that domestic revenue projections total US$1.13 billion, representing 94 percent of the proposed budget, while external resources amount to US$72 million, or 6 percent. The domestic revenue includes Tax Revenue of US$726.97 million, Non-Tax Revenue of US$83.92 million, the Mittal Sign-on Bonus of US$200 million, and Contingent Revenue of US$28 million. According to Ngafuan, these projections reflect ongoing efforts to improve revenue collection, tighten fiscal controls, and support transparent governance.
Receiving the draft budget, Speaker Richard Nagbe Koon praised the Ministry for meeting the statutory timeline and assured that the Legislature would begin immediate scrutiny through its Committee on Ways, Means, and Finance. “We have received this communication on behalf of the President and will transmit it to plenary for onward submission to the relevant committee for detailed review. We appreciate the tune of US$1.2 billion and hope the revenue projections are realistic to avoid shortfalls,” Speaker Koon remarked.
He noted that budget deliberations will begin early next week and requested additional copies of the document to ensure full participation of lawmakers during the review process. The Speaker stressed that ensuring oversight, accountability, and prudent spending will be central to the Legislature’s work as it engages the draft financial framework.
The 2026 Draft Budget places significant emphasis on President Boakai’s ARREST Agenda, the administration’s development blueprint focusing on Agriculture, Roads, Rule of Law, Education, Sanitation, and Tourism. Approximately US$280 million is allocated to Public Sector Investment Plan (PSIP) projects under these categories, reflecting the government’s stated commitment to infrastructure growth and economic stability.
In his Budget Message to the Legislature, President Boakai lauded lawmakers for passing the FY 2025 budget within the statutory period, noting that it facilitated smoother governance and program implementation this year. He urged the Legislature to maintain diligence and transparency during the 2026 budget review, emphasizing the need for careful evaluation of proposed expenditures and revenue projections.
The submission of the Draft National Budget fulfills Section 1.7.1 of the 2019 Amendment and Restatement of the Public Financial Management (PFM) Act of 2009, which requires the Executive to present the national budget within the mandated timeframe. According to the MFDP, the timely submission is intended to ensure continuity of government operations and prevent delays in public spending.
Minister Ngafuan is expected to address journalists and the public at a special press briefing on Monday, November 10, 2025, at the Ministry of Information, Cultural Affairs and Tourism (MICAT), where he will provide further clarity on the draft budget, including sectoral allocations and fiscal priorities for the upcoming year.
