IPNews-Capitol Hill, Monrovia: It is now his fourth address to the Joint Session of the Liberia legislature, as required in Article 58, of the Liberia 1986 Constitution, amid the devastating effects of the global COVID-19 pandemic.

Yet relentless, President George Manneh Weah, has set a worthy milestone as his government record an unprecedented growth in its revenue collection and expenditure.

Delivering his fourth Annual Message, President Weah stressed that the total revenue received for the calendar year under review (2020) was $653.9 Million US dollars.

This amount, President Weah noted comprises $475.5 Million US dollars in domestic revenue and $178.4 Million US dollars in external resources from our development partners.

On the expenditure portion, the Liberia leader stated that a total expenditure for the same period amounted to $606 Million US dollars.

The Liberian head of state also maintained that In the same fiscal period, the National Legislature recast the 2019/2020 National Budget twice: first to address perceived revenue challenges, and secondly to respond to the COVID-19 pandemic. The first recast took the National Budget from $525.9 Million US dollars to $505 Million US dollars. The COVID recast subsequently increased the National Budget to $518 Million US dollars.

Joyfully, the Government Liberia spent the amount of $518 Million US dollars for the Fiscal Year 2019/2020 and carried forward the cash amount of $7.0 Million US dollars for enactment in the 2020/2021 National Budget, which the National Legislature subsequently passed at an amount of $570 Million US dollars.

On contribution from International Partners and Multilateral Organizations, President George Weah stated that the United States Agency for International Development (USAID) and the Government of Liberia signed a Development Objective Grant Agreement of $640 Million US dollars that will be programmed to support various projects that the Government of Liberia and USAID will agree on as priority areas of need over the next five (5) years.

Those resources the Liberian leader said are supporting key sectors and will be critical to sustain growth, going forward.

Meanwhile, Liberian President George Manneh Weah has admitted that the state of the economy “remains challenged, yet, has assured citizens that his CDC government will focus on the “bread and butter issues”.

Three years ago on January 22, 2018, he took over on the mantra, “change for hope” and promised to make life better for ordinary Liberia, reducing poverty under his “Pro-poor Agenda for Prosperity and Development”. But conditions have become worse by the day economically for most Liberians, with the unemployment rate at an all- time high. .

He has therefore ordered officials in his government to take note, as it is time “to recalibrate”, with this new marching orders from the Liberian Chief Executive coming over a months after his ruling CDC party suffered massive defeat at the polls in the December 8, 2020 Special Senatorial election.

“There will be no room for errors–government officials, please take note,” President Weah cautioned his officials.

Addressing the joint session of the 54th Legislature at the Capitol Building in Monrovia, the Liberian leader announced that although the state of the economy “remains challenged,the fundamentals remain sound and strong”.

He earlier however acknowledge that the Liberian economy is suffering from an ongoing cash shortage in the banks, with 40%of in the rate of the Liberian dollar banknotes being mutilated, despite the printing of LD$4 billion in July 2020.

President Weah is calling on the Legislature to act on a Central Bank of Liberia(CBL) recent request to print over LD$27 banknotes, promising to submit a Bill to ensure currency reform.

The Liberian leader blamed the COVID-19 pandemic for a number of strain on the country’s economy during the year 2020.

But he said despite the challenges of COVID, öur development drive has not been derailed.

President Weah concluded by describing the overall state of the nation as “stable and peaceful”.