Liberia: Senate Ends 2025 Revenue Budget Hearing

16 December 2024
The New Dawn (Monrovia)
By Lincoln G. Peters

The Senate Statutory Committee on Ways, Means, Finance, and Budget concluded the hearing on the revenue component of the draft 2025 National Budget, expressing optimism that the execution of the new budget will begin as of January 1, 2025.

Providing an overview after the end of the hearing on Saturday, the Chairman of the Senate Committee on Ways, Means, Finance and Budget, Senator Prince Moye of Bong County, indicated that the 2025 draft Budget was well structured by the Ministry of Finance and Development Planning, considering major needs of the Liberian people.

According to Senator Moye, in the spirit of transparency and an open budget process, the revenue hearing which had long been held in "closed door", was opened to the public based on instruction of President Pro-Tempore, Nyonblee Karnga Lawrence.

Chairman Moye states that considering the analyses done on the revenue component of the draft instrument, especially domestic revenue and International contributions, the 2025 budget, which accounts for over eight hundred and fifty-one Million United States dollars, will have a safe landing.

Based on the conclusion of the revenue hearing, he adds that the Committee has reverted to the committee room for any other revenue consideration or discussion.

Responding to an inquiry on the failure of the National Port Authority and National Fishery and Aquaculture Authority to contribute their proposed contributions to the national Budget, Chairman Moye notes that the Liberia Revenue Authority will further make an assessment and inform the committee with respect to said decision.

He discloses that with the level of work being done by the committee, there is a prospect for the discovery of other revenue sources that may further push the national budget to over Nine Hundred Million United States Dollars.

Following the conclusion of the revenue hearing, the Senate Ways, Means, Finance and Budget Committee Chairman revealed that the hearings for the expenditure component of the budget will commence today, Monday, December 16, 2024, adding, "We want to ensure that the Budget is passed before January 2025". Editing by Jonathan Browne

Read the original article on New Dawn.

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