Monrovia — Finance and Development Planning Minister Augustine K Ngafuan urges his colleagues in the cabinet and heads of various governmental institutions to restrict unnecessary spending and manage the money allotted to them through the national budget.
"Let me urge you, my fellow ministers and heads of governmental institutions, to put some restrictions on all those unnecessary spendings and manage the little that is in your budget," he advises.
He gave the advice Thursday, January 9, 2025, while speaking at the Ellen Johnson Sirleaf Ministerial Complex in the oldest Congo Town, at the start of a three-day workshop on the effective execution of the Fiscal Year 2025 National Budget.
Minister Nyafuan urges ministers and directors appointed around April not to have the mentality of executing their entities' or ministries' budgets within nine months, stating that doing so would result in their or ministries' budgets being exhausted before the budget year.
"If we must have an effective budget execution," he stresses, "It's imperative that we take some serious steps on restrictions or else, you might just get broke."
"While we acknowledge that certain ministers and directors were hired around April, having a budget execution mindset for nine months will deplete the budget, and your entitlement or ministry would go bankrupt shortly. This budget is for twelve months, not three, six, or nine," he cautions.
He advises heads of public agencies to do quarterly and yearly planning, stating that it will aid in budget implementation.
He urges that they grasp budget regulations better to align their budgets with the execution of their institutions, saying that two ministries can have the same budget. Still, one can execute properly while the other cannot, which he notes depends on how each ministry manages its money.
It is not your budget size that matters but how you spend it. The administration expects better budget execution this year since last year, there were transition issues that required the budget to be recast, filed in April, and enacted virtually in May. The same recast budget had to be reversed twice. As a result, ministries and agencies struggled with planning.
Ngafuan, who is in the position for the second time, having served under Ex-president Sirleaf, emphasizes that now that ministries and agencies have a year to prepare, there should be no excuse for not doing better.
Providing an overview and introductory remarks, deputy finance minister for budget, Madam Tanneh Brunson, says the budget execution workshop is a critical step of their collective commitment to the efficient execution of the budget in translating the aspirations of the Liberian people as captured in the arrest agenda for inclusive development.
She underscores the critical role each heads of governmental institutions play as stakeholders in shaping the trajectory of the nation's development.
"Today, we converge not merely as representatives of institutions, but as stewards of the public trust, charged with ensuring efficient use of our nation's financial resources for the benefit of all," the budget minister underscores.
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She recalls how recently, the 55th Legislature approved the FY 2025 National Budget at a record US$880 million, adding that it is an extraordinary opportunity to drive meaningful progress across Liberia.
However, with this opportunity comes profound responsibilities to ensure that every dollar is allocated and spent in alignment with the national objectives, principles, fiscal disciplines, and accountability, says Minister Brunson.
She says the workshop serves not only as a refresher but also as a capacity-strengthening platform for policymakers and technical staff within spending entities to deepen their knowledge of the public financial management arena and, specifically, the execution of the budget.
The workshop, which is being attended by scores of officials from line ministries, agencies, and commissions, including development partners, is expected to climax tomorrow, Saturday, January 11, 2025.
