Africa-Press – Liberia. Boakai administration prioritizes key sectors in 2024 National Budget.
The Ministry of Finance and Development Planning (MFDP) has unveiled its draft national budget for FY 2024, highlighting strategic investments in agriculture, infrastructure, and health to advance the government’s ARREST agenda.
With a total proposed budget of $692,409 Million, the government aims to accelerate critical projects essential for national development.
Presented during the ongoing Expenditure Component of the Budget Hearings before the Joint Legislative Budget Committee, the draft budget signifies notable shifts in economic allocations compared to the previous fiscal year. While compensation of employees remains consistent, significant reductions are observed in the allocations for goods and services and grants.
The draft budget proposes increasing domestic and foreign liabilities in line with the government’s commitment to addressing outstanding debts.
National claims are expected to rise by $27,244,017, primarily attributed to augmented allocations towards domestic liabilities and grants. The ministry has also identified the rule of law, education, sanitation, and tourism as pivotal sectors for national development.
Aligned with the National Development Plan and Vision 2030 objectives, the FY 2024 draft budget emphasizes 15 County Development Agendas and a Public Sector Investment Program, focusing on agriculture, roads, health, and energy.
Key budget policies underscore the ARREST agenda, 100-day deliverables, and gender-responsive planning and budgeting. Moreover, efforts are underway to streamline the penalty regime and bolster the Liberia Revenue Authority’s capacity for taxpayer information collection to safeguard the revenue base.
The MFDP’s budget proposal reflects the Government’s steadfast commitment to sustainable development and economic resilience enhancement.
In a bid to foster citizens’ engagement, the joint Legislative Committee is actively soliciting questions from Civil Society Organizations participating in the ongoing Budget Hearings at the Capitol.
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