The Plenary of the Liberian Senate has unanimously concurred with the House of Representatives for the passage of the 2024 National Budget, tallying US$738,859,827.
The passage by the Senate during the final sitting of the Special session on Tuesday April 30, 2024 includes adjustments and discovery of additional revenue envelope of US$46,451,000.
In his report before the Senate’s concurrence, the Chairman of the committee on Ways, Means, Finance and Budget, Bong County Senator, Prince K. Moye, disclosed that there was an adjustments to domestic debt obligations creating a net fiscal space of US$ 96,101,000.
According to Chairman Moye, key considerations were given to Social Development US$15.5million, Security and Rule of Law US$12.3 million, Infrastructure and Basic Services US$ 8.9 million, Municipal Government US$7.4 million, Energy and Environment US$ 7.1 million, Agriculture US$ 3.4million, Education US$3.3 million, Transparency and Accountability US$1.7million, including Industry and Commerce US$1.6 Million, as well US$4million for rehabilitation of disadvantaged youth (Zogoes) respectively.
During their individual inputs on the national envelope, Senators expressed concerns over Budget misuse and vowed to strengthen oversight to ensure it serves the best interests of the Liberian State and the Citizenry.
According to a Senate Press Release, the 2024 fiscal envelop which was itemized will ensure the allotment of 25 percent of the Road Fund for the purchase of road equipment for all counties for maintenance purposes.
Accordingly, all revenue collected from the road fund shall be presented to the road authority by the Ministry of Finance and development Planning of which 5% shall be for administration of the Road Fund.
As the Government takes key interest in roads reconstruction consistent with the ARREST agenda, the Ministry of Public works is required to send a comprehensive list of all roads to be done under this budget within fifteen days to the Legislature through the Legislative Budget Office for approval.
At the same time, the budget will ensure that in the procurement of Government vehicles in this budget, besides the President, the Vice President, the Speaker, The President Pro-tempore, Deputy Speaker, and Chief Justice, shall not exceed forty five thousands United States dollars.
In the desire of the Legislature to ensure a smooth execution of the county development funds, it is required that all Social Developments Funds(SDF) including Land Rental fees shall be transferred to the affected Counties Escrow account.
The passage of the 2024 National Budget was one of the imperative reasons for the recalled of the Legislature by President Joseph N. Boakai for a one month special session.
