Rédaction Africa Links 24 with New Dawn
Published on 2024-04-18 00:55:00
In the 2024 National Budget unveiled by the Boakai administration, key sectors such as agriculture, infrastructure, and health are given priority to advance the government’s ARREST agenda. The Ministry of Finance and Development Planning (MFDP) presented a draft budget totaling $692,409 million, aiming to accelerate critical projects crucial for national development.
During the Expenditure Component of the Budget Hearings before the Joint Legislative Budget Committee, the draft budget showed significant changes in economic allocations compared to the previous fiscal year. While there is consistency in compensating employees, there are noticeable reductions in goods and services and grants allocations. The draft budget also proposes an increase in domestic and foreign liabilities to address outstanding debts.
There is an expected rise in national claims by $27,244,017, mainly due to increased allocations towards domestic liabilities and grants. The Ministry has identified the rule of law, education, sanitation, and tourism as pivotal sectors for national development, aligning with the National Development Plan and Vision 2030 objectives.
The FY 2024 draft budget emphasizes 15 County Development Agendas and a Public Sector Investment Program, focusing on agriculture, roads, health, and energy. Key budget policies highlight the ARREST agenda, 100-day deliverables, and gender-responsive planning and budgeting. Efforts are also being made to streamline the penalty regime and enhance the Liberia Revenue Authority’s capacity for taxpayer information collection to protect the revenue base.
The MFDP’s budget proposal reflects the government’s commitment to sustainable development and economic resilience enhancement. To engage citizens, the joint Legislative Committee is actively seeking questions from Civil Society Organizations participating in the ongoing Budget Hearings at the Capitol. Jonathan Browne is responsible for editing the content of this budget proposal.
The administration’s focus on key sectors through strategic investments is aimed at driving national development and achieving the government’s priorities. By aligning with the National Development Plan and Vision 2030, the budget emphasizes the importance of agriculture, infrastructure, health, and energy in shaping Liberia’s future.
Overall, the 2024 National Budget presents a comprehensive approach to economic development, emphasizing the need for sustainable growth and resilience. Through targeted investments and strategic budget policies, the Boakai administration seeks to address key challenges and propel the country towards a more prosperous and resilient future.
Read the original article on The Newdawn Liberia
