The Senate Plenary on Tuesday, July 25, concurred with the House of Representatives to pass the Restated 2023 National Budget.
The Restated budget was recently passed by the House of Representatives and forwarded to the Senate for concurrence.
It can be recalled that during the submission of the Restated budget to the legislature, President George Weah, decried significant blow to the Liberia’s economy, that the country would experience a budget shortfall of US$23M.
President Weah’s admission comes as he requested the House of Representatives to recast the budget from its approved amount of US$782million to US$759.4 million with a variance of US$23.5 million.
The shortfall represents 3.5 percent of the total projected domestic revenue of US$672 million, which has been deemed a risk and untenable.
Meanwhile, President Weah said in his letter to the Legislature that the Government of Liberia will ensure that year-end spending is in line with available resources, adjustments in spending entities’ program allocations and balances have been made such that the risk is absorbed by all and sundry.
