Executive Finally Submits National Budget @ US$532m -Min. Tweah: 2019/20 Budget Is Most Realistic, Executable
The country’s national budget, which should have been submitted two months earlier in order to come into full force effective July 1, 2019, was only last weekend presented to the National Legislature. The administration of President George Manneh requested for additional time to submit the draft budget, expressly to allow time for thorough collation consistent with new dynamics in the fiscal space, including but not limited to the current inflationary pressure and the needed for austerity actions. Speaking to journalists at the submission, Finance Minister Samuel D. Tweah said following weeks of robust rationalization, he was sure that the Executive Branch of Government had developed the country’s most credible, realistic and executable budget that accommodates local and international demands. The Analyst reports.
Minister of Finance and Development Planning, Hon. Samuel Tweah, along with the Deputy Minister of Budget MFDP Madam Tannie Brunson, has on behalf of President George Weah submitted the National Budget 2019/2020 to the 54th Legislature.
Presenting the US$532,906,966.00 Budget Finance Minister Samuel Tweah reaffirmed President Weah’s resolve fighting fraud and abuse of resources.
Minister Tweah says government was making significant efforts to pay domestic vendors in the amount of US$35 million and to reduce Government’s wage-bill, not by wage cut as is widely speculated but by by “payroll harmonization”, which is quite revolutionary in Liberia’s governance history.
Minister Tweah disclosed that government’s wage-bill in 2018/2019 fiscal year was US330 million but with the harmonization, the new wage-bill for 2019/2020 will now be US$ 297 million.
He added that government has put in place strong revenue measures which will ensure U$22 million in new revenue, during the new but with an envelope size of US$532,906,966.00.
Receiving the budget, the Speaker of the House of Representatives, Dr. Bhofal Chambers, thanked the MFDP authorities for the submission of the fiscal instrument, acknowledging that while the budget was being presented late, it was proper that it was done well then presented sooner without being done properly for Legislative action.