MONROVIA, May 26 (LINA) – The Ministry of Finance and Development Planning (MFDP) has submitted a « Special National Budget” for Fiscal Year 2021 to the National Legislature through House Speaker Bhofal Chambers.
The « Special National Budget” is in the tone of US$301.5 million.
Making the presentation on Tuesday in the office of House Speaker, Deputy Finance Minister for Fiscal Affairs, Samora Wollokollie, stated that the « Special National Budget » is in line with section 65 of the amended version of the Public Financial Management Act of 2009 which provides for a change in fiscal year and for the formulation of a « Special National Budget” for the period of six (6) months.
Wollokollie added that the « Special National Budget » is for the next six (6) months beginning July 1, 2021 to December 31, 2021.
The amended budget law, according to Wollokollie, is in line to pave the way for a transition to the new fiscal year which begins 2022.
« This special draft national budget, like any other, shows how monies have been collected or will be spent on public goods and services, » Min. Wollokollie said.
He explained that the Liberian economy in the framework paper of the budget is expected to have « growth » and has been projected at 3.2 percent from the “sum » of three percent.
Among other things, Minister Wollokollie indicated that the budget highlights key expenditure areas, including public debts service, the total of US$34.0 million, amounting to 11.6 percent of the total budget; personnel and personnel-related expenses in the total amount of US$151.6 million or 50.3 percent of the total national budget.
Others are healthcare service, amounting to US$4.4 million; Energy and Supply, US$5.1 million as well as infrastructure service in the amount of US$10.9 million.
Minister Wollokollie stated that “this particularly, is allocated to the road fund and key investment areas to include the Ganta and Saclepea corridor and the RIA Runway and operational cost of the National Road Fund.”
He, at the same time, disclosed that the Government transferred a total amount of US$19.3 million while the Education component covers a total of US$2.9 million and social and local development has a total of US$6.6 million.
Accepting the budget, House Speaker Chambers thanked the MFDP authorities for the submission of the document and hopes the budget serves the interest of Liberians.
He further stated that in line with Article 34 « D, » the House of Representatives and Senate will take the appropriate measures leading to a timely passage of the instrument
