President Signs Budget
President Ellen Johnson Sirleaf signed into law the national budget of US$581 million for fiscal year 2013/14 on Tuesday, October 22nd at her Executive Mansion office at the Foreign Ministry in Monrovia.
Consistent with Section 11.1 of the Public Financial Management Act of 2009, the President on Tuesday, April 30, 2013 submitted the draft FY 13/14 national budget to the 53rd national legislature. The budget reflects the second year spending in the three-year Medium Term Expenditure Framework (MTEF) introduced last year.
The national budget for 2013/14 focuses investments in key areas that are consistent with the Government of Liberia's development priorities focusing on energy, roads, ports and technology. These areas hold greatest potential for economic growth, expansion and development in Liberia.
What is different this time?
Few things are different in this year's budget compared to the FY12/13. The total projected revenue envelop in US$553 million as compared to US$672 million in FY2012/13. The revised envelop does not include Borrowing (which was US$80 million in FY12/13). Contingent Revenue (which was US$83 million in FY12/13) and Cash Brought Forward (which was US$53 million in FY12/13).