Pres. Weah Begs For Time To Submit 2022 Draft Budget

278

President George M. Weah has written the plenary of the House of Representatives seeking for an extension for the submission of the 2022 Fiscal Draft National Budget by 11 working days as of October 31, 2021. The President’s communication was read in session on Tuesday, November 2, 2021 during the 5th day sitting of the special session.

   The President said his request for the extension for 11 working days is based on the late passage of the 2021 Fiscal Year Special National Budget and the restatement of the Public Financial Management (PFM) Act of 2009, which provides for the change in fiscal year and the beginning of a fiscal period (January 1, 2022 to December 31, 2022).

   “I could not have commenced the preparation of the new fiscal budget for 2022 without finally concluding the special national budget, as doing so would have created confusion with two similar instruments before you,” the President’s communication reads.

   Additionally, the President said the government had to conclude negotiations with the fund regarding the country’s next monetary and fiscal policy goals, which he stressed, are largely aimed at achieving macroeconomic stability.  

   “We had to ensure that our resource envelop is realistic, and that our proposed expenditures reflect government’s priorities in the wake of the worsening macroeconomic outlook exacerbated by the impacts of COVID-19 and the increasing expenditure demands on our meager resources. These include ensuring the alignment of our commitments to our people during nationwide tour, the upcoming national population and housing census and the general and presidential elections in 2023.”

   Accordingly, President Weah noted that the country needs to take deliberate action to address the challenges confronting the on-going Wage Bill Reform Program, thereby closing the teachers’ gap, increase investment spending on Liberia infrastructural, agricultural, education and health related projects. All of these, the President said, required finalizing with the IMF on the size of the Fiscal Year 2022 revenue and expenditure envelop.

   Following the reading of the communication, a motion was made by Representative Ivar Jones, Margibi County, to have the President’s request for the extension granted. The motion was overwhelmingly voted for.

Leave A Reply

Your email address will not be published.