The Liberian Government says it is targeting an ambitious US$1 billion for the upcoming national budget as an exhibit of its commitment to fiscal growth. Information Minister Jerolinmek Piah made the disclosure following the end of a special cabinet meeting chaired by President Joseph Boakai at the Executive Mansion on Thursday, August 15, 2024.
The meeting was attended by Vice President Jeremiah Koung, Agriculture Minister Alexander Neautah, Commerce Minister Amin Modad, amongst other high-profile cabinet members.
Minister Piah, while explaining to reporters the significance of this move, revealed that the Liberia Revenue Authority (LRA) Commissioner General Dorbor Jallah delivered a comprehensive presentation during the meeting, focusing on the strategies necessary to enhance revenue collection and meet this unprecedented budget target.
He said Commissioner Jallah also requested the government’s full support in achieving this projection, highlighting the importance of collaboration between the LRA and various government agencies.
Minister Piah conveyed President Boakai’s emphasis on fiscal responsibility and the need to strengthen the state’s revenue streams. “The President has urged the LRA and other relevant agencies to intensify their efforts in areas such as tax collection and customs duties, which are critical to supporting Liberia’s national development agenda,” Piah said.
Till date, Liberia has no record of a national budget reaching the USD1 billion goal. However, the Boakai’s administration is eyeing this record with strong focus on revenue enhancement, improved public financial management, and strategic investments in key sectors like infrastructure, health, education, and agriculture.
Liberia’s previous national budgets have fallen short of this billion-dollar milestone, with the recent FY 2021/2022 budget standing at approximately USD 785.6 million, and the FY 2022/2023 budget around USD 806.5 million.
Minister Piah said the government’s approach is not just about reaching a numerical target but ensuring that the budget is reflective of Liberia’s growth ambitions. Courtesy by: By: Sylvester Choloplay
