President George Weah through the Ministry of Finance and Development Planning has submitted the Draft National budget for the calendar year January 1 to December 31, 2022, to the National Legislature.
On November 18, 2021, the Ministry of Finance and Development through its Minister Samuel D. Tweah, submitted the 2022 Draft National Budget to the Liberian Legislature in a total of US$785,587,340 to House Speaker Dr. Bhofal Chambers.
The budget which is the highest ever in the history of Liberia was submitted in line with section 65 of the Amendment and Restatement of the Public Financial Management (PFM) act of 2009, which provides for the change in the fiscal year and for the formulation of a special national budget of six months to pave the way for the transition to the new fiscal year, which begins in 2022.
Finance Minister Tweah at the submission of the projected National budget on Thursday said the agriculture sector has been increased by 60.5%; Energy and Development Sector 76.1%; security sector by 9.1%, as well as Health sector by 12.3%.
House Speaker Dr. Bhofal Chambers receiving the budget expressed hope that the draft National budget will serve the best interest of the Liberian people.
He added that in consultation with the Ministry of Finance and Development Planning, the Legislature will do her best hope to ensure that the pro-poor agenda for prosperity and development could be enhanced with the collective support of all.
According to Speaker Chambers, the Legislature based on the constitutional provision of article 34d will do what is required for the passage of the draft national budget.
He furthered that the Lower House expects that the Senate will cooperate and coordinate other activities of the draft budget”.