By P. Vangerline Kpotoe

MONROVIA, Aug.17 (LINA) – The Government of Liberia, through the Ministry of Finance and Development Planning (MFDP), has submitted the draft recast budget for Fiscal Year 2024 to the Liberian Legislature.

According to an August 16 statement from the Ministry of Finance and Development Planning (MFDP), the draft budget, totaling US$721.5 million, was presented to the Speaker of the House and the Senate through the office of the Vice President on Friday, August 16, 2024.

According to the statement, Acting Minister of Finance and Development Planning, Anthony G. Myers, informed the Vice President and the Speaker in separate submissions that, on behalf of President Joseph N. Boakai Sr., the budget was prepared based on its performance over the first half of the year.

“It is my distinguished honor to present the draft recast budget for FY 2024. This recast is informed by the budget’s performance over the first six months of the year, addressing revenue outcomes and prioritizing critical expenditures for the country,” the release quoted the Finance Minister as saying.

“We thought we needed to first rebalance the budget in order to avoid budget shortfalls and secondly to protect critical expenditure lines that are key national priorities,” he added.

For his part, the Vice President and President of the Liberian Senate, Jeremiah K. Koung, thanked the MFDP team for the submission and assured them that he would work with the Senate to act on it.

At the Speaker’s office, Acting Minister Myers stating, “It is with great respect that I submit this budget for your consideration.”

Upon receiving the draft budget, House Speaker Cllr. J. Fonati Koffa acknowledged the submission and said, “We have received this communication on behalf of the President and have made several notations regarding its acceptance.”

To enhance the budget process, Speaker Koffa announced the formation of a committee to investigate allegations of budget tampering. He named Hon. Robert Wogbeh as chair of the committee, with Hon. Emmanuel Dahn as co-chair, among others.

Speaker Koffa emphasized that the committee’s goal is to address and resolve any concerns related to the recently passed budget and stressed the importance of additional documentation. “We expect to receive various reports, including out turns, off-budget expenditures, and related processes,” he said.

He advised the senior management team at the Ministry of Finance and Development Planning to submit all necessary documents promptly to the legislature to facilitate a thorough review and ensure the completion of the process.