President Sirleaf said the nation's economy, like most in the world today, is experiencing some turbulence due largely to the global economic downturn and as such proposed measures will not only affect the Executive, but also the Legislative

and Judicial branches of government.

In her message accompanying the nation's budget for fiscal year 2016/2017, read in the plenary of the House of Representatives Tuesday, the Liberian leader said that the nation will have to apply fiscal measures as a short-term strategy aimed at controlling expenditure.

The 2016/17 budget is in the amount of US$556 million, consisting of two major segments – recurrent expenditure in the tune of US$487.2 and public sector investment amounting to US$68.8 million.
She said this is intended for the nation to demonstrate to partners its commitment to the priorities before it, and thereby attract their support, adding, "We must lead the charge together in taking practical steps to diversify our economy and insulate it from external shocks of the nature we have experienced over the last three years."

President Sirleaf said that it will also require that government makes investments in certain critical infrastructures such as electricity and roads, and that citizens, through private enterprise, will have to take advantage of the opportunities in agriculture, agro-processing and light manufacturing.

"There is no better time than now to seize this opportunity, especially when we have invested significantly in more than 700 kilometers of paved roads and more than 136 megawatts of electricity," she noted.

Meanwhile, the Liberian leader has emphasized the need for the speedy
passage of the 2016/2017 fiscal budget so that critical investments are not slowed down to further hurt the nation's economy.

She has also called for the passage of key tax legislations that are before the body which, according to her, form the basis for the revenue assumptions made in the budget, and that which can also reduce the risk to the revenue envelope aimed at financing the country's development interventions.
LINA WSG/TSS/PTK