President Joseph Nyuma Boakai has written to the Senate, requesting an extension for the submission of the 2026 Fiscal Year Budget. According to the communication read in session on Tuesday, Boakai said as required by Section 17.1 of the 2019 Amendment and Restatement of the Public Financial Management Act of 2009 (PFM Law), the President should present the draft budget at least two months before the close of the fiscal year, that is, on or before October 31.
He stated that the PFM Law and its accompanying regulations set a number of minimum standards for a draft budget to be considered credible. The President told senators that the Ministry of Finance and Development Planning (MFDP) and the Liberia Revenue Authority (LRA) have completed the revenue and expenditure framework for the draft FY 2026 budget.
“However, I have also been informed that necessary consultation with some local and external partners whose feedback is critical to the crafting of a credible and comprehensive budget has not been fully exhausted,” he said. The President added that to allow for the consummation of this process, the FY2026 budget must be submitted no sooner than November 7, 2025. “It is my hope that the FY2026 budget process would serve as one more opportunity for us to strengthen the framework for coordination aimed at achieving our shared national vision and goals,” Boakai concluded.
