By Raine Tarka Golegio, Monrovia
The Liberian House of Representatives has passed the “Draft Restated National Budget for Fiscal Year 2022 in the tone of $806 million, 587 thousand, 341 Dollars, awaiting concurrence by the Senate.
The the decision was taken on Thursday July 07, 2022, following the reading of President George Weah’s communication submitted to the legislature for legislative action on the proposed Restated budget.
According to the President’s Communication, the submission is from the backdrop and context that the restatement is necessitated by the need to address urgent and unforeseen National expenditure demands through reprioritization of the Country spending plan.
The total revenue envelope for the proposed Restated Budget is US$806,587,341 reflecting a net upward adjustment of US$20, million or 2.9 percent over the originally approved budget of US $785,587,340.
A Press release from the House of Representative states that the President’s letter highlighted the extra fiscal space was yielded through internal reprioritization of existing programs, identifying additional resources, as well as a World Bank Loan of US$15, million dollars.