By Grace Q. Bryant
Ministry of Information has disclosed that President Joseph Boakai has presented the Fiscal Year 2025 Draft National Budget showing a 15.3% increase.
Making the disclosure yesterday, November 18, 2024, the Ministry of Information emphasized that the new budget proposing a total of $851.8 million amidst the previous $738.9 million recast in 2024, projected the administration’s commitment to advancing its ARREST Agenda for Inclusive Development (AAID) while addressing debt obligations and other key priorities.
According to MICAT’s boss, President Boakai delivered the budget document earlier to the House of Representatives through its Chief Clerk.
US$833 million is earmarked as Core Revenue, while $18.8 million is classified as Contingent Revenue.
The significant increase in appropriation, according to the President, is intended to align resources with the government’s developmental agenda and ensure inclusive economic growth.
“This draft budget lays the foundation for addressing the critical needs of our people and advancing our national development priorities. I urge you, the honorable lawmakers, to give it the timely consideration it deserves to ensure its effective execution beginning January 2025,” President Boakai told the legislators during the submission.
The draft budget focuses on supporting key sectors such as education, healthcare, infrastructure, and agriculture, all central to the administration’s ARREST Agenda, which aims to tackle systemic development challenges.
It includes allocations for debt servicing and other pressing government obligations, emphasizing fiscal responsibility.
The submission is in compliance with Section 17.1 of the 2019 Amendment and Restatement of the Public Financial Management Act of 2009, which mandates the President to submit the national budget to the legislature for consideration ahead of the fiscal year.
Meanwhile, Finance and Development Planning Minister, Augustine Kpehe Ngafuan, is scheduled to provide a detailed breakdown of the draft budget during a press briefing on Tuesday, November 19 at the Ministry of Information, Cultural Affairs, and Tourism.
The press has been urged to arrive early to ensure timely proceedings.
