President Joseph N. Boakai, through the Ministry of Finance and Development Planning, has submitted the 2024 Draft Recast Budget to the House of Representatives, sparking a renewed commitment to transparency and accountability from the Legislature.
Receiving the Draft Recast Budget on Friday, August 16, House Speaker Cllr. J. Fonati Koffa emphasized the Legislature’s unwavering stance against corruption, announcing significant measures to investigate allegations of budget alteration. “The fight against corruption is paramount,” Speaker Koffa declared. “We will uphold the highest standards of transparency and accountability in government operations.”
In his communication to Speaker Koffa, President Boakai outlined a proposed resource envelope for the FY2024 recast budget, projected at $738.8 million. This figure includes a risk-adjusted portfolio of $721.5 million and an additional $17.3 million to be raised through targeted revenue mobilization measures. These measures include an increase in GST on select goods and services, higher non-concessional mineral royalties, and an executive order imposing a surcharge on imports that compete with domestic manufacturing outputs.
The President’s letter detailed the allocation of the recast budget, with $672.3 million (91%) earmarked for recurrent expenditure and $66.6 million (9%) for the Public Sector Investment Plan (PSIP). Key recurrent expenditures include debt services to commercial banks and multilateral institutions, compensation of employees, and operational goods and services for government entities. The budget also prioritizes subsidies, grants, and transfers to health, education, and social services sectors.
Speaker Koffa, in his response, urged the Ministry of Finance and Development Planning to submit all supporting documents to assist the Ways, Means, and Finance Committee during its scrutiny of the recast budget. “The integrity of our budget process is critical,” Speaker Koffa stated. “We will ensure that every aspect of this budget is thoroughly examined and that any allegations of manipulation are investigated with full force.”
To reinforce this commitment, Speaker Koffa announced the formation of a special investigative committee to probe the budget alteration claims. The committee, chaired by Bong County Electoral District 4 Representative Robert F. Womba, includes Montserrado County Electoral District 7 Representative Emmanuel Dahn as co-chair, alongside Hon. Thomas Romeo Quioh, Hon. Sekou Kanneh, and Hon. Sumo Mulbah. As the 55th Legislature moves forward with its review of the recast budget, Speaker Koffa’s strong stance sends a clear message: the pursuit of transparency and accountability will be relentless, ensuring that the budget serves the best interests of the Liberian people.
