By: T. Lula Jaurey
IPNews-Monrovia,Liberia-4 May 2018: Minister of Finance Samuel Tweh has revealed that the government of Liberia have made major cuts in the FY 2018 budget.
Addressing the Ministry of Information, regular press briefing, Minister Tweh stated that the drift national budget for fiscal 2018/2019 FY budget has endorsed by the Executives with austerity measures taken effecting non-essential goods and services including cuts in foreign travels, transport equipment, scratch cards and vehicle fuel used by government officials.
He said, health, education and security sectors have taken measures to preserved essential operational lines for goods and services.
Minister Tweh: “These preserved essential operations include drugs, education materials, food and fuel for health and security facilities.”
The Minister noted that, grants related to health service delivery have also been preserved, while other grant recipients shall face the same austerity measures as other budgeted entities.
Additionally, Minister Tweh spoke about the increase in the amount appropriation for non-financial assets which reflects the Government’s increasing commitment to investment in road works and other priority infrastructures during the fiscal budget of 2018/2019.
“All of these expenditure measures have provided the fiscal space to facilitate aggressive investment in Public Sector Investment Programs (PSIP). Thus, the PSIP program amounts to US$73.42 million, this is a 57% increase over FY2017/2018 appropriation of US$46.90 million which included US$22 million for the national election and US$1.9 million for by-election costs.”. Minister Tweh narrated.
Meanwhile, the Minister disclosed that government will reprioritize spending to key sectors which will drive towards inclusive economic growth and provision of essential services to most vulnerable citizens.
Tweh: “ This decision is evidenced by appropriations endorsed for key sectors. Education, health and Security which remain key targets for recurrent cost spending necessary for service delivery he added.”
He however added that, the FY2019/2020 will see major emphasis place on implementation of government’s 5-year medium-term growth strategy in government funded activities, as well as, activities funded by our development partners.
