The Informer (Monrovia)
Roland Perry
26 June 2009
The Ministry of Finance through the Department of the Budget yesterday, June 25, 2009, began a two-day workshop on budget execution for sector heads and budget analysts in Monrovia.
Speaking during the start of the workshop, the senior research and project officer of the Department of the Budget at the Ministry of Finance, Mr. Dorsla Farcarthy, said the workshop is intended to sharpening the minds and skills of sector heads as well as budget analysts of various line ministries and agencies in the formation and execution of the budget.
He said the workshop for sector heads and analysts is also part of a new ideas the budget department has added to the budget formulation process.
Mr. Farcarthy indicated that the workshop will discuss topics such as the Fiscal Year 2009/2010 Budget and the Poverty Reduction Strategy (PRS); link to work plan, cash plan, cash flow versus procurement plan.
Also to be discussed are reporting methodology (expenditure and performance), monitoring and evaluation of the budget, allotment request procedures, financial rules and commitment control process, PAN procedures and impact on the budget among others.
He however disclosed that it is the expectation of the DOB that participants will fully participate in the workshop and make maximum use of the training acquired in order to perform excellently in the formulation and execution of the budget.
Under Pillar 11 of the Liberia Poverty Reduction Strategy (PRS) revitalizing the economy; The government's expressed economic goal for the next three years is the establishment of a stable and secure environment that would put the country on an irreversible path towards sustainable growth and development.
"According to government estimates produced in conjunction with the IMF, economic growth is expected to accelerate to 9.6 percent in 2008; 10.3 percent in 2009; and 14.8 percent in 2010; before tapering off to 12.3 percent in 2011."
The government also intend to reform the country's financial sector in order to promote a stable, sound and market-base financial system that supports efficient mobilization and allocation of resources to foster sustainable economic growth and poverty reduction.
Analysts believed that such a workshop will enlighten the minds of budget analysts as well as sector heads of various line ministries and agencies is in the best interest of the government poverty reduction plan and must be supported by all sectors of the society.
The workshop which brought together representatives from various line ministries and agencies, civil society, as well as NGOs is being held in the auditorium of the University of Liberia on Capitol Hill. Contact 06270297 email perryroland@rocketmail.com.
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