MONROVIA – The recent statement by the Coalition for Democratic Change (CDC) regarding the FY2026 National Budget is misleading and without legal foundation.
According to a MICAT release, “a thorough review makes it necessary to emphasize a key legal principle: the authority to appropriate, amend, and finalize the national budget lies exclusively with the Legislature—not the Executive.
The CDC’s argument that the budget should be returned to the President for adjustment reflects a fundamental misinterpretation of the Public Financial Management Law.
“Once the Executive submits a draft budget, jurisdiction immediately transfers to the Legislature, whose constitutional responsibility is to review revenue projections, modify allocations, and enact appropriations that reflect national priorities. This process is mandated by law. The Executive has neither the duty nor the legal right to withdraw or reissue the budget once it has been submitted.
On the matter of debt servicing, the CDC’s attempt to distort the facts cannot obscure the well-documented history of its own administration.
“The General Auditing Commission reports plainly show that the previous CDC government engaged in unauthorized and unconstitutional borrowing, leaving behind irregular debts and repayment arrangements that violated established financial procedures.
“In contrast, the current administration has restored order and legality to public financial management: meeting lawful debt obligations, ending illicit borrowing practices, and rebuilding fiscal space to support essential public investments—including increased wages in key sectors and expanded employment programs. These reforms have been critical in addressing the financial disorder inherited from the last administration.
“The CDC’s claim that the FY2026 budget is based on unrealistic revenue assumptions is equally unsubstantiated. Domestic revenue performance has steadily improved over the past two years, an unmistakable departure from the repeated budget recasts, persistent shortfalls, and fiscal instability that characterized the CDC era.
“The inclusion of contingent revenues, such as the AML signature bonus and proceeds from ongoing asset recovery efforts, follows long-standing precedent and is supported by active negotiations and operational recovery initiatives. These projections are grounded in evidence and established budgeting practices, not political wishful thinking.
“In its entirety, the FY2026 budget represents a disciplined, forward-looking fiscal strategy built on proven economic gains, strengthened public financial management systems, and renewed confidence in government institutions. It stands in stark contrast to the unpredictability, opacity, and financial mismanagement that defined the previous administration.
“The progress achieved over the past two years is real, measurable, and rooted in openness and accountability values that were notably absent under the CDC.
“The public deserves clarity, not distortion. This administration will continue to lead with integrity, adherence to the law, and responsible fiscal management, not the misinformation or failed financial habits of the past, “the release concluded.