The House of Representatives, on Monday in Monrovia passed into law the Government of Liberia COVID-19 Response Recast Budget pending concurrence by the Senate, a press release from the office of the Speaker, Rep. Bhofal Chambers, has said.
Last Friday, President George M. Weah wrote the Speaker Chambers detailing the executive proposal in the draft recast budget reapportioning more than $32 million in the outgoing 2019-2020 national budget.
According to the House’s Committee on Ways, Means, and Finance, and Public Accounts and Expenditure inline with the mandate of Plenary, conducted a hearing on the Draft Recast National Budget for Fiscal Year 2019/2020, which began with the Revenue Envelope.
The Committee divulges that Upon the review of documents and testimonies from Liberia Revenue Authority and Ministry of Finance and Development Planning the recast revenue envelope is projected to be at US$$518,005,258.00, forecasting domestic revenue at US$394,594,258.00 and external resources at US$123,409,000.00.
In the recast budget hearing, the Committee ensures that the following measures are effectuated:
- Compensation, preserved at 100% of appropriation, although other Grants and Subsidies are risked, the essential operational budget is not impacted.
- Health and Security were considered in the recasting process with emphasis on COVID-19 responses.
- That all fiscal measures provided for in the FY-2019/2020 National Budget remains in force, except otherwise specifically provided for in the Joint Resolution creating the State Of Emergency and its approved stimulus package as approved by the National Legislature.
Of the US$42.02 million raised, US$32.77 million is proposed for re-appropriation for COVID-19 response, while US$2.00 million and US$8.00 million for Grant and domestic debt respectively.
The re-appropriation of the expenditure is as follow: