Africa-Press – Liberia. Speaker Koon (left), receiving the draft budget from Finance and Development Planning Minister Augustine Ngafuan, expressed hope that revenue estimations are realistic to prevent a shortfall.
For the first time, the National Budget has reached or crossed the one-billion United States Dollar, yet, the Speaker of the House of Representatives, Richard Nagbe Koon is critical of how the Executive Branch of the Liberian government will fetch those sources of revenue.
Receiving the US$1,211,220,185.20 budget for the 2026 fiscal year from the Minister of Finance and Development Planning, Mr. Augustine Kpehe Ngafuan on Friday, Speaker Koon expressed hope that revenue estimations are realistic to prevent a shortfall.
Speaker Koon assured the Executive through the Ministry of Finance and Development Planning (MFDP) that copies of the financial instrument will be distributed with all 73 members of the House to begin immediate hearing process this.
While there had been initial request for further delay for submission by President Boakai, the House Speaker lauded the Executive for the presentation ahead of the requested adjustment.
‘We have been here in the legislature, and before government will ask us for extension and we keep extending and extending. We are very grateful to your work. We appreciate the tune of 1.2 billion which we hope that the revenue estimated should be realistic so that we avoid the issue of shortfall,’ said the head of the Liberian Legislature.
‘While we preparing for due diligence in the budget, we want to make sure that as people’s deputies, they will get detail and the best from us. Want to say thank you for this time and we are about to do our work. Effective next week, we will start work. So, we hope the other 73 copies can be made available as soon as possible hopefully tomorrow,’ he added.
Making the formal presentation of the budget, Minister Ngafuan, accompanied by some deputy ministers, said the proposed budget, which totals US$1,211,220,185.20, is a sum attributed to significant growth in domestic revenue, driven in part by a major concession agreement.
He lauded the Legislature for granting it the additional one-week period.
The finance minister indicated that the submission was deliberately delayed by one week to ensure the fiscal instrument was comprehensive and accurately reflect the current reality and ongoing economic conversations.
According to him, the budget is in alignment with the President’s development agenda – the ARREST Agenda for Inclusive Development (AAID).
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