The Ministry Of Finance and Development Planning (MFDP) through its Department of Budget and Development Planning, has begun a three-day executive orientation workshop on the 2024 National Budget.
The orientation, which began on Wednesday, May 8, 2024, is being held at the Paynesville Town Hall. The workshop aims to fortify the collective understanding and proficiency of government institutions in fiscal governance and management.
Giving the overview of the workshop, Assistant Minister for Budget, Sarah M. McGill said as the government endeavors to navigate the processes of budget planning, execution, and reporting, it is important that the institutions equip themselves with a comprehensive understanding of requisite laws, regulations, policies and procedures that have been developed.
Minister McGill said the overarching objective of the workshop is to provide a platform for policymakers and technical staff within spending entities to deepen their knowledge of public financial management, specifically the budgetary landscape with a specific focus on the execution of the 2024 Budget and the preparation of the 2025 Draft Budget.
“Through interactive sessions and informative presentations, we aim to enhance your familiarity with key fiscal policies, processes, and compliance indicators, while also addressing potential challenges and mitigation strategies,” she noted.
According to her, it is important that key stakeholders are involved to ensure a comprehensive approach.
“Our anticipated outcomes include increased compliance with the legal framework governing budget formulation, execution and reporting, heightened awareness of key legal ramifications, and a deeper understanding of budgetary processes and challenges,” she indicated.
She further said the ministry anticipates fostering enhanced inter and intra-governmental coordination, thereby promoting efficiency, accountability, and the responsible use of public funds.
“I am pleased to note that this workshop targets all 108 spending entities, with each entity represented by a cross-section of key personnel. Through phased implementation and careful segmentation, we aim to ensure maximum participation and engagement, thereby facilitating a meaningful exchange of insights and experiences,” she narrated.
She wants all participants to approach the workshop with enthusiasm and commit to active participation as, together, we have the opportunity to strengthen our fiscal governance practices and pave the way for sustainable development and prosperity for all Liberians.
For his part, Acting Finance Minister, Anthony G. Myers described the 2024 National Budget Executive Orientation as the first of its kind under the administration of President Joseph N. Boakai.
Minister Myers explained that the concept of having a budget execution workshop is to enable spending ministries and agencies to know what is before them when the budget is approved.
Also speaking, Integrity Watch Liberia Executive Director, Harold Aidoo said the essentials of Civil Society participation in the budget fiscal reforms and fiscal transparency are not intended for supervision purposes.
He said it is to legitimize the process and to satisfy the criterion of the global performance index. Aidoo added that civil society is happy for the new administration to see its value in the governance processes.
