IPNEWS: The Honorable House of Representatives has voted unanimously to pass into law the 2024 Recast Budget, maintaining the total allocation at $738,859,000.
Plenaryโs decision follows a thorough review by both Chambers Conference Committee, which outlined adjustments made at $6.6 million.
After an assessment of SOEs, giving the MFDP authority to issue T-Bills and Bonds, borrowing from commercial banks to raise additional 9.5M to fill the deficit of $17M.
According to the Press Bureau some key allocations in the approved budget include $6,649,788 directed to vital sectors such as Health, (Drugs Rehabilitation, Monkey pox etc), Education, the Liberia Airport Authority, and the Liberia Water & Sewer Corporation, specifically for water assessments in Southeast regions, among others.
Following the passage, House Speaker Cllr. J. Fonati Koffa expressed his gratitude to his colleagues for their commitment to the citizens of Liberia, stating, โWe have answered the call of the People and ensured that our Country is not held hostage.โ Speaker averred.
He underscored the Legislature’s responsibility to manage the people’s Money wisely, acknowledging the historical complications and challenges in the budget process that require immediate attention.
In his remarks, Speaker Koffa underlined the importance of accountability and urged the Committee on Ways, Means, and Finance to begin proactive preparations for the 2025 National Budget.
He called for a more structural approach to budget management, stressing the need for transparency and effective execution of budgetary provisions by the executive branch.
The passage of the 2024 Recast Budget marks a significant step towards fiscal responsibility and sustainable development in Liberia, reinforcing the House of Representatives’ commitment to serving the best interests of its constituents and the Republic of Liberia.
Meanwhile the House is expected to adjourn for its extraordinary session of the 2nd Quarter of the first session Tuesday, 24 September to resume the 2nd Friday in October.
