Pres. Boakai Submits US$851.8 Million Budget To Legislature
Pres. Boakai Submits US$851.8 Million Budget To Legislature
MONROVIA, Nov. 19 (LINA) – President Joseph N. Boakai has submitted the National Budget for Fiscal Year 2025 to the National Legislature.
The 2025 draft budget is in the tone of US$851.8 Million. The budget document was submitted on Monday, November 18, 2024, to the House of Representatives through the office of the Chief Clerk.
According to the document, US$833 million is Core Revenue, while US$18.8 million is categorized as Contingent Revenue. The 2025 draft national budget as submitted, is 15.3 percent more than the 2024 Recast Budget total appropriation of US$738.9 million.
The significant increase in appropriation, according to the document, is intended to align resources with the government’s developmental agenda and ensure inclusive economic growth.
At the same time, the draft budget captures appropriations aimed at delivering on key priorities of the ARREST Agenda for Inclusive Development (AAID) as well as addressing debt service and other obligations of the government.
President Boakai has further urged the lawmakers to exert their best efforts towards ensuring timely consideration and approval of the budget to ensure effective and efficient execution of the budget beginning January 2025.
The submission of the draft national budget is in compliance with Section 17.1 of the 2019 Amendment and Restatement of the Public Financial Management Act 2009.
Meanwhile, Deputy Chief Clerk Cummick Chea, has confirmed receipt of the budget on behalf of the office of the Chief Clerk and has submitted it to the Deputy Speaker of the 55th National Legislature, Thomas Fallah.
