IPNEWS: The Honorable House of Representatives has approved the fiscal year 2024 National Budget in the tune of US$ US$738,859,827.
Members of the House of Representatives for the first time voted by roll call to approve the budget.
The passage of the budget followed a rigorous budget debate on Thursday, April 25, 2024, by members of the House of Representatives.
The debate preceded a report from the joint Ways, Means and Finance and Public Accounts committee of the House and the Liberian Senate respectively.
A statement issued by the House Press Bureau says, the budget, submitted at US$692,408,827 witnessed an increment of US$46,451,000.00.
The increment later benefited the following sectors:
Transparency and Accountability, Security and Rule of Law, Health, Education and Agriculture. Those The House of Representatives has adopted the draft National Budget in the tone of over US$738.8 million.
Adjustment made in the draft for 2024 budget identified additional revenue sources from various revenue and spending government institutions.
For the Legislative Action, and additional $692,408,827, was identified for addition to the budget.
Other resources identified for addition to the draft national budget include the Ministry of Foreign Affairs $(844,000.00), Liberia Information Services $2,000,000.00, Ministry of Labor $1,500,000.00, Ministry of Mines and Energy $6,500,000.00 and Ministry of Transport $740,000.00
Another $8,000,000.00 additional resources were identified for Liberia Revenue Authority, coming from the Ministry of Commerce and Industry of $1,350,000.00, LPRC $1,000,000.00, NPA $2,500,000.00, NAFAA …$1,500,000.00, LPRA (Direct Negotiation) $12,800,000.00, Road Fund Levy Reversal $7,000,000.00, and Maritime Revenue $2,000,000.00. Others included the LTA $3,500,000.00, Road Fund Levy Arrears $1,000,000.00, Road Fund Levy of 5-cent from LPRC $6,305,000.00, and Revenue double counting on sur-charges $(10,400,000.00) $46,451,000.00, taking the adjustment of the draft national projected revenue to $738,859,827.00
Meanwhile, House Speaker, Cllr. J. Fonati Koffa, has lauded he cooperation of lines, Ministries and Agencies of Government for collaboration during the revenue and expenditure hearings including the joint legislative committee for thoroughly scrutinizing the
The passage of the budget, followed a rigorous budget debate on Thursday, April 25, 2024, by members of the House of Representatives.
The debate preceded a report from the joint Ways, Means and Finance and Public Accounts committee of the House and the Liberian Senate respectively.
A statement issued by the House Press Bureau says, the budget, submitted at US$692,408,827 witnessed an increment of US$46,451,000.00.
The increment later benefited the following sectors:
Transparency and Accountability, Security and Rule of Law, Health, Education and Agriculture.
