Amidst speculations over the conclusion of recent audit report into the mysterious disappearance of sixteen billion Liberian dollars by international auditors brought in by the United States Embassy,near Monrovia in 2018, the Liberian leader has announced that the investigation report will be out to the public by 28th February 2019, by auditors contracted by the United States Aid for International Development-USAID.
President Weah pronouncement today when he address the joint session of the 54 Legislature, now bring to an end speculations that the report has since been submitted, but was been kept due to the involvement of key government officials.
President Weah reassured members of the 54th Legislature of his continued desire to ensuring those held liable following the publication of the audit report on the missing 16bn, will be brought to book and made to account as required by law.
“let me assure you all my fellow citizens, that as part of our desire to ensuring an impartial investigation led us to requesting our Foreign partners, such as the European Union, ECOWAS, African Union and our traditional friend, the United States,”
“We want to be grateful to the U.S. government for hiring an auditing firm which is concluding it’s report and will be made public early February 2019, by auditors hired by USAID.”
“Let me make this clear, the government of Liberia is committed to enforcing and bringing to booked all persons or who be persons found responsible; and they will face the full weight of the law!” President Weah stated.
Touching on the state of the country’s economy:
Touching on the state of the country’s economy, the Liberian leader stated that the economy has made significant strides with a growth rate of 56.8% at the end of 2018.
President Weah said the growth rate shown in 2018, was significantly experienced from the oil, gas and manufacturing sectors.
He said the government of Liberia is committed to settling all domestic debts, especially debts owed banking institutions by the previous government.
The Liberian twenty-fifth president lauded the initiation of the ‘Mobile Money system’, by GSM Mobile companies which has significantly accelerated transaction from rural to urban communities easily.
The former world soccer icon, told members of the national Legislature that despite the many economic challenges, the general revenue collection is experiencing significant growth as compared to previous year 2017 at a growth rate of 4.5% during the same period.
The Liberian leader lauded the continued contribution and support Of Liberia’s development partners to the government of Liberia, budget under the ‘Pro Poor’ agenda with a total of twenty-eight (28M) in 2018 which surpassed support in 2017.
He also told members of the joint Legislature that Liberian development partners during the year of 2018, contributed a total of 399 million United States dollars to the government of Liberia, development projects.
Expenditure Component:
On the expenditure component of the annual budget, President Weah reported an increase of government expenditure to 502 million United States dollars with that of 493 million in 2017.
President George Weah, stated that the consistent increase in expenditure is due to other outstanding debts owed by the government of Liberia.
The Liberian leader disclosed that the debt burden of Liberia has risen to 987.8 million United States dollars as of 878.2 million in 2017.
President Weah attributed the increase also borrowing on extended loans on various loans such as the Arab loan in 2017, prior to the coming in of the George Weah administration. But stated that the government under the ‘Pro Poor’agenda, was reviewing options to acquire loans for the development of Liberia. Details come in subsequently.