The Bureau of State Enterprises (BSE), in collaboration with the European Union (EU), is set to host a high-level technical budget meeting on Thursday, February 6, 2025, at 10:00 a.m. at the bureau’s headquarters. The meeting will bring together key stakeholders, including the Ministry of Finance and Development Planning (MFDP), Liberia Revenue Authority (LRA), and state-owned enterprises (SOEs) to discuss the fiscal framework and accountability mechanisms under the EU Budget Support Program for the Government of Liberia (GoL).
Over the past few years, the Government of Liberia (GOL) has worked closely with the EU to strengthen economic governance, with a strong emphasis on mobilizing domestic resources through SOEs. As parts of this partnership, the BSE, MFDP, and EU have established key performance indicators (KPIs) linking core tax remittances by SOEs to the disbursement of EU budget support. The up-coming discussion will focus on refining these KPIs to ensure effective tax contributions from SOEs, including withholding taxes, corporate income taxes, and goods and service taxes.
Speaking ahead of the meeting, the Director General of the BSE, Arthur S. Massaquoi Sr., reaffirmed the bureau’s unwavering commitment to integrity, accountability, and transparency in overseeing SOEs’ compliance with budget support conditions.
“As the oversight authority for state-owned enterprises, the Bureau of State Enterprises remains committed to upholding the highest standards of integrity, accountability, and transparency. Our role in this process is to ensure that SOEs operate efficiently, meet their tax obligations, and contribute meaningfully to Liberia’s economic growth. The EU Budget Support Program presents a vital opportunity for fiscal stability, and we will work diligently with all stakeholders to implement realistic and achievable budgetary triggers that align with national development goals,” DG Massaquoi stated.
“The Bureau of State Enterprises looks forward to constructive deliberations with government agencies, the EU, and SOEs to strengthen Liberia’s economic governance and enhance the financial sustainability of state-owned entities,” DG Massaquoi maintained.