By Bill W. Cooper
The Ministry of Finance and Development Planning (MFDP) has launched a three-day workshop aimed at enhancing budget execution for the fiscal year 2025.
The event, which includes 108 spending entities and 18 state-owned enterprises (SOEs), focuses on improving financial management and accountability, as participants will engage in discussions on effective budget planning, monitoring, and reporting practices.
The workshop, which is being organized ahead of the official launch of the government’s developmental agenda, is also part of the government’s efforts to strengthen fiscal discipline and ensure that public resources are utilized efficiently.
Also, the 3-day workshop ongoing at the Ellen Johnson Sirleaf Ministerial Complex in Congo Town, is being held under the theme: “Executing a Creditable, Efficient, and Effective Budget to Achieve the ARREST Agenda.”
The workshop aims to further equip participants with the necessary skills and knowledge to implement the FY2025 Budget efficiently, thus ensuring that Liberia’s fiscal resources are utilized effectively and responsibly.
In his opening remarks during the start of the workshop, Finance and Development Planning Minister, Augustine K. Ngafuan emphasized the importance of collaboration among entities to achieve sustainable economic growth and development in Liberia.
Minister Ngafuan however urged the heads of Ministries, Agencies, and Commissions (MACs) to be meticulous in the execution of their budgets, cautioning that the initiative reflects a commitment to transparency and good governance.
Ngafuan also stressed the importance of keeping focus on the priorities of the FY2025 Budget, while also ensuring compliance with the legal framework governing budget formulation, execution, and reporting.
He emphasized that the achievement of these approved priorities in line with the ARREST Agenda for Inclusive Development (AAID) will be key in the successful implementation of this year’s budget.
“The passage of the budget before the New Year is a historic achievement that has taken years to realize, and it is now essential for Ministries, Agencies, and Commissions to effectively manage the resources available to them to make a meaningful impact on the lives of Liberians,” Ngafuan noted.
The country’s Finance Minister further disclosed, “Unlike last year, which faced transitional challenges, this year the process has proceeded smoothly, from budget submission and deliberation to passage by the Legislature and approval by the President.”
“Everything has happened in a timely manner, and I am confident that we will see better execution this year. I mean, a budget execution that will be transparent and credible to benefit our people,” the Minister intoned.
Minister Ngafuan further encouraged the MACs and SOEs to plan effectively for the FY2025 to ensure that their respective budgets are not exhausted prematurely, adding, “Proper planning is critical to ensuring that your budgets last the full year and deliver the intended services to the people.”
Earlier, Deputy Minister for Budget, Tanneh Brunson said budget execution comes with a huge responsibility to ensure that every dollar is allocated and spent in conformity with national objectives, principles, as well as, fiscal discipline and responsibility.
She added, “As such, this workshop serves not only as a refresher but also as a capacity strengthening platform for policy makers and technical staff within spending entities in order to deepen their knowledge on Public Financial Management and specifically on budget execution.”
