The Liberian Senate has reached a decision to separately hold hearings into the 2025 draft national budget submitted to them by the Executive branch of government through the Ministry of Finance and Development Planning.
The Senate reached the decision Tuesday, November 19, 2024 during its regular session.
The draft budget is in the tone of US$851.76 million, of which domestic revenue constitutes US$791.76 million or 93 percent of the total envelopes. This includes tax revenue of US$633.37 million or 80 percent of domestic revenue, non-tax revenue of US$138.5 million or 17.4 percent and contingent revenue of US$18.8 million or 2.3 percent.
The budget, read by the Secretary of the Senate, was accepted and forwarded to the Senate’s Committee on Ways Means, Finance and Budget to report back to plenary after its committee’s work.
The budget submitted to the President Pro Tempore, Nyonblee Karnga Lawrence, highlighted several key priority areas for consideration by the Legislature.
The government has also taken deliberate steps to invest in programs that have real impacts on the current and future wellbeing of the people of Liberia. Consequently, in the proposed budget, the government is increasing the proportion of the PSIP expenditure from US$67.4 million in FY2024 to US$98 million in 2025, a 31% increase.
This increase is informed by the adequate allocation of resources for the implementation of the ARREST agenda projects and programs, which amounts to US$87 million or 86 percent of PSIP.
The allocations for the ARREST-specific PSIP projects are meant to initiate projects and programs for the first-year national development plan.
The 2025 draft budget prioritizes roads and infrastructure, US$52.9 million allocated, including US$37.6 million for rehabilitation of major roads.