The Liberian Senate has unanimously concurred with the House of Representatives to pass the 2024 National Budget, amounting to $738,859,827.
The Senate’s approval during the final sitting of the Special Session on Tuesday, April 30, 2024, includes adjustments and an additional revenue envelope of $46,451,000.
In his report to the Senate, the Chairman of the Committee on Ways, Means, Finance and Budget, Bong County Senator Prince K. Moye, revealed that there were adjustments to domestic debt obligations, resulting in a net fiscal space of $96,101,000.
Key allocations in the budget include: Social Development ($15.5 million), Security and Rule of Law ($12.3 million), Infrastructure and Basic Services ($8.9 million), Municipal Government ($7.4 million), Energy and Environment ($7.1 million), Agriculture ($3.4 million), Education ($3.3 million), Transparency and Accountability ($1.7 million), and Industry and Commerce ($1.6 million). Additionally, $4 million has been set aside for the rehabilitation of disadvantaged youth (Zogoes).
During their discussions, Senators expressed concerns over the potential misuse of the budget and vowed to strengthen oversight to ensure it serves the best interests of the Liberian state and its citizens.
The Senate Press Release states that the 2024 fiscal envelope will allocate 25 percent of the Road Fund for the purchase of road equipment for maintenance purposes in all counties. Additionally, 5 percent of the Road Fund will be used for its administration.
The Ministry of Public Works is required to submit a comprehensive list of all roads to be constructed under this budget within 15 days to the Legislature through the Legislative Budget Office for approval.
Furthermore, the budget will limit the cost of government vehicles, with the exception of the President, Vice President, Speaker, President Pro-tempore, Deputy Speaker, and Chief Justice, to a maximum of $45,000 per vehicle.
To ensure a smooth execution of the county development funds, the budget requires that all Social Development Funds (SDF), including Land Rental fees, be transferred to the affected counties’ escrow accounts.
The passage of the 2024 National Budget was one of the key reasons for the recall of the Legislature by President Joseph N. Boakai for a one-month special session.
