President George Weah, has signed into law the National Budget for the fiscal period beginning July 1, 2019 and ending June 30, 2020, a release from the Executive Mansion has said.
According to the release, the National Budget, which was signed October 28, 2019 totals L$110,460,000,000 or US$526,000,000, provides for the expenditure or operational cost of the Government of Liberia, an Executive Mansion release said.
The Legislature, following months of intensive deliberations, according to the release, forwarded the budget to the office of the President for signing into law.
Earlier, the Executive Branch of the Government through the Ministry of Finance and Development Planning submitted the National Budget to the Legislature.
The 2019/20 National Budget accounts for three separate revenue envelopes, including Tax Revenue at US$378,000,000, non-Tax Revenue at US$87,200,000, as well as External Resources at US$60,800,000. It subsequently becomes law once printed into hand bills by the Ministry of Foreign Affairs.