President Joseph N. Boakai has finally signed the 2024 National Budget. The Budget was signed Tuesday, May 14, 2024 upon his return from the US-Africa Business Summit in the United States of America.
The signing ceremony took place at the Roberts International Airport in lower Margibi County. It can be recalled on May 1, 2024, the Liberian Senate unanimously concurred with the House of Representatives for the passage of the 2024 National Budget in the amount of US$738,859,827.
The passage by the Senate during the final sitting of the special session on Tuesday, April 30, 2024 includes adjustments and discovery of additional revenue envelope of US$46,451,000.
In his report before the passage of the instrument, the Chairman of the Committee on Ways, Means, Finance and Budget, Bong County Senator, Prince K. Moye said there were adjustments made to domestic debt obligations creating a net fiscal space of US$ 96,101,000.
Senator Moye said key considerations were given to Social Development with US$15.5million, Security and Rule of Law US$12.3 million, Infrastructure and Basic Services US$ 8.9 million, Municipal Government US$7.4 million, Energy and Environment US$ 7.1 million, Agriculture US$ 3.4million, Education US$3.3 million, Transparency and Accountability US$1.7million, including Industry and Commerce US$1.6 Million, as well US$4million for rehabilitation of disadvantaged youth (Zogoes) respectively.
During the debate, Senators expressed concerns over budget misuse and vowed to strengthen oversight to ensure it serves the best interests of the citizenry.
The 2024 fiscal envelop which was itemized will ensure the allotment of 25 percent of the Road Fund for the purchase of road equipment for all counties for maintenance purposes.
