The House of Representatives has approved the 2025 Draft National Budget, amounting to US$880 million, following rigorous reviews and adjustments during budget hearings.
The proposed budget now moves to the Liberian Senate for further deliberation and concurrence.
Initially submitted by the Executive at US$851 million, the budget was increased by US$29 million after careful scrutiny by the House Committee on Ways, Means, and Finance.
The additional funding aims to bolster critical sectors such as healthcare, education, infrastructure, and security, reflecting the government’s commitment to equitable development.
Maryland County Electoral District 1 Representative and Committee Chairperson, P. Mike Jurry, emphasized the importance of the adjustments.
“The additional US$29 million ensures that more resources are directed to critical sectors that impact the lives of ordinary Liberians. This budget reflects our commitment to equitable national development,” Rep. Jurry stated during a press briefing.
Meanwhile, the Senate Statutory Committee on Ways, Means, Finance, and Budget recently concluded hearings on the revenue component of the draft budget. Bong County Senator and Committee Chairperson Prince Moye expressed optimism about the budget’s prospects and commended the Ministry of Finance and Development Planning for its detailed preparation.
Senator Moye highlighted a shift toward transparency in the budget process, noting that the revenue hearings were opened to the public for the first time on the instructions of President Pro-Tempore Nyonblee Karnga Lawrence.
“With the analyses done on the revenue component, especially domestic revenue and international contributions, the 2025 budget is well-structured and ready for safe landing,” Senator Moye remarked.
The Committee is also exploring additional revenue streams, raising the possibility of the budget exceeding $900 million. Agencies such as the Liberia Revenue Authority (LRA) are tasked with reassessing contributions from entities like the National Port Authority and the National Fisheries and Aquaculture Authority, which failed to meet their proposed obligations.
Following the conclusion of revenue hearings, the Senate Committee will begin reviewing the expenditure component of the budget. Senator Moye assured the public that the Senate remains committed to passing the budget before January 2025 to ensure a smooth start to its implementation.
“This process underscores our dedication to ensuring the budget addresses the pressing needs of the Liberian people. We aim to finalize deliberations expeditiously,” he added.
The adjustments and ongoing discussions around the 2025 National Budget highlight Liberia’s efforts to strengthen fiscal management, enhance transparency, and prioritize national development. If finalized, the budget will pave the way for increased investment in critical sectors while fostering economic growth and stability.
