The plenary of the Liberian Senate has endorsed the Senate Ways, Means, Finance and Budget report on the draft recast budget, declining to concur with the House of Representatives on the passage of the recast budget.
The Chairman of the Senate Budget Committee, Senator Prince Moye, disclosed that the Liberian Senate differed in the restoration of the US$17.3 million deficit.
According to him, the way it was allocated by the House of Representatives, the Senate felt that additional assessment of the state-owned enterprises in such a very high amount would undermine revenue collection.
“The Senate has to be conservative and look into other areas and restore education and health into its totality, as it was passed in the 2024 national budget,” he said.
According to the Senate Committee Chairman, the House of Representatives shifted US$18.2 million, while the Liberian Senate shifted US$5.2 million to restore health and education.
“The Senate believes that if the House of Representatives shift over US$18.2 million in the draft recast budget it would mean that it will deviate to a very large extent from programs that have been put through the procurement process in different ministries and agencies,” Senator Moye stated.
The recast budget is intended to satisfy conditions set by the International Monetary Funds (IMF) so that the country will be able to enroll into the External Credit Facility Program of the IMF.
Meanwhile, the Liberian Senate has set up a conference committee to work along with the conference committee of the House of Representatives on the differences.