Liberia: Senate Concurs With House On Budget
The Plenary of the Liberian Senate has concurred with the House of Representatives on the passage of the draft Restated 2022 National Budget in the tune of US$806,587,341.00.
The Senate Plenary action was triggered by a report from the Joint Committee on Ways, Means, Finance & Budget as well as Public Accounts and Audits.
The concurrence of the budget followed a budget hearing involving the Finance Ministry and the Liberia Revenue Authority officials who answered some questions on the various allocations.
The total revenue envelope for the proposed Restated Budget which was received by the Plenary of the Liberian Senate was US$806,587,341.00. This reflected a net upward adjustment of US$20,000,001.00.
This amount, according to the report, constitutes 2.9 percent over the original approved budget of US$786,587,340.00.
The extra fiscal space was yielded through internal reprioritization of existing programs, identifying additional resources, as well as a World Bank Loan of US$15m.-Edited by Winston W. Parley