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Liberia: Ministry of Finance and Development Planning Directs Fiscal Prudence Amid Resource Scarcity

Author: Berenice Mulubah
The Ministry of Finance and Development Planning has issued a strict directive to government spending entities, instructing them to "prioritize their priorities" due to the ongoing scarcity of resources under the Unity Party-led administration. In a recent memo signed by Finance Minister Augustine Kpehe Ngafuan and sent to Ministries, Agencies, and Commissions, the Ministry stressed the importance of being mindful of limited resources. Strict instructions have been given for all government spending entities to stick to their approved budgets for Fiscal Year 2025 and to practice fiscal prudence in what is described as a "challenging fiscal environment." Furthermore, the Ministry reminded government institutions of the importance of effectively managing their budgets. The Ministry also informed government institutions that the budget is merely a projection until revenue is raised through the efforts, dedication, integrity, and sacrifice of the Liberia Revenue Authority, the MFDP, and all other stakeholders involved in revenue generation. “This year’s budget is US$88.7 million, showing a growth of 19.2% compared to last year’s Recast Budget of US$738.9 million. While this US$141.8 million increase is undeniably impressive, it is still far below the over US$2 billion in funding requests for 2025 that the MFDP received from spending entities during the formulation of the current budget,” the Ministry explained.

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