Rédaction Africa Links 24 with New Dawn
Published on 2024-04-10 20:45:54
Government Seeks to Expand Economy to $1 Billion Revenue Mark
In a bid to bolster the economy, Liberia’s Minister of Finance and Development Planning, Boima Kamara, has emphasized the need for revenue expansion. Addressing the Liberian Senate on Monday, April 8, 2024, Minister Kamara highlighted the importance of focusing on economic growth as the government embarks on a revenue hearing.
Minister Kamara stressed the significance of implementing fiscal policies that would support robust economic investments. He pointed out the necessity for collaboration between the Ministry of Finance and Development Planning, the Liberia Revenue Authority, and the Legislature to enact interventions, particularly the passage of the Value Added Tax (VAT) Bill.
The Minister highlighted that passing the VAT Bill would not only boost domestic tax revenue but also enhance transparency, accountability, and overall development in the country. He expressed confidence that with the right growth strategies in place over the next six years, the government could achieve a revenue target of one billion United States dollars by collaborating closely with the Liberia Revenue Authority.
Minister Kamara emphasized the need for a stronger partnership among stakeholders to develop effective fiscal policies that would accelerate national growth and development. He revealed the government’s aim to achieve a growth rate between five percent and eight percent, with the potential to reach up to ten percent over the next six years. Drawing from his extensive experience in overseeing both the fiscal and monetary sectors of the economy, Minister Kamara expressed optimism about the country’s growth prospects.
It is evident that the government is committed to driving economic expansion and increasing revenue to propel Liberia towards a more prosperous future. Through effective policy implementation and collaboration with key institutions, such as the Liberia Revenue Authority and the Legislature, Liberia aims to achieve sustainable economic growth and development.
As Minister Kamara leads the charge towards economic expansion, it is essential for all stakeholders to work together towards common goals and objectives. By fostering a conducive environment for investment, implementing sound fiscal policies, and enhancing revenue generation, Liberia can pave the way for a thriving economy that benefits all its citizens.
In conclusion, the government’s ambition to grow revenue to the one billion dollar mark reflects its dedication to fostering economic prosperity and improving the livelihoods of the Liberian people. With a clear focus on sustainable growth and development, Liberia is poised to achieve significant milestones in the coming years under Minister Kamara’s leadership.
Read the original article on The Newdawn Liberia
