The House of Representatives has noted a communication of request from President George Manneh Weah for an extension in the submission of the National Draft Budget for 2023.
President Weah’s communication to the House of Representatives was dated on Tuesday, 1, 2022.
He asked the full plenary for an extension of the submission of the FY2023 Draft National Budget by 22 working days as of October 31, 2022, on or before November 30, 2022.
local media quotes the president’s communication as saying the national budget submission is delay because he wants it be consistent with his government’s program and policy that was recently adopted.
The government of Liberia has recently concluded discussions with the IMF on the next monetary and fiscal policy goals, which the president said are largely aimed at achieving macroeconomic stability.
President Weah communication also stated that as a follow-up to the recent discussion at the World Bank Annual Meeting, an IMF 5th Review Mission under his administration extended credit facility program is in Monrovia to conclude its assessment of his government’s macroeconomic developments and performance, and the fiscal policy outcomes and projections for the ensuing fiscal year.
Pres. Weah noted in his Communication that under the ECF Program, the Executive and partners are concluding negotiations before finalizing the resource envelope for the next fiscal period.
The Communication also stated that it is important to ensure that the Country’s resource envelope is realistic and reflects government’s priorities in the wake of the worsening macroeconomic outlook intensified by the lingering impacts of COVID-19, the Russia/Ukraine War and the increasing expenditure demands on Liberia’s meager resources.
He also noted that this preparation will ensure adequate funding for the 2023 General and Presidential Elections address extra-budgetary pressures to subsidize the current rice situation in the country, as well as to fund government institutions in order to remain operational without causing disruptions during the elections year.
The government of George Weah says it has made more progress in improving the country’s economy as the national budget recently hit almost 800 million.
However, prices of major communities continue to rise and jobs creation remain very low.
First reported by New Dawn Liberia
