𝗛𝗼𝘂𝘀𝗲 𝗼𝗳 𝗥𝗲𝗽𝗿𝗲𝘀𝗲𝗻𝘁𝗮𝘁𝗶𝘃𝗲𝘀 𝗖𝗼𝗻𝘃𝗲𝗻𝗲𝘀 𝗙𝗶𝗿𝘀𝘁 𝟮𝟬𝟮𝟱 𝗤𝘂𝗮𝗿𝘁𝗲𝗿𝗹𝘆 𝗕𝘂𝗱𝗴𝗲𝘁 𝗣𝗲𝗿𝗳𝗼𝗿𝗺𝗮𝗻𝗰𝗲 𝗛𝗲𝗮𝗿𝗶𝗻𝗴

Monrovia, Montserrado, Liberia – The House of Representatives, through its Committee on Ways, Means, Finance, and Development Planning, today convened its first Quarterly Budget Performance Hearing for 2025. This hearing aligns with the Committee’s statutory mandate under the Public Financial Management (PFM) Law and the 2025 National Budget Law, aiming to ensure fiscal transparency and accountability.

In his address, the Chairman of the Ways, Means, and Finance Committee, Hon. P. Mike Jury, emphasized the critical role of the national budget as a “financial document of reality” and a “tool for transformation measurable by the quality of services delivered to the Liberian people.” He reiterated the Committee’s unwavering commitment to collaborating with the Executive Branch to achieve a national budget exceeding the one-billion-dollar mark.

Hon. Jury highlighted the Committee’s ongoing efforts to curb revenue leakages and enhance fiscal accountability. He noted that inefficiencies, billing errors, tax evasion, and mismanagement contribute to these leakages, ultimately undermining Liberia’s revenue potential. Addressing these issues, he stressed, is fundamental to achieving financial discipline and effective budget execution.

He further detailed several key fiscal provisions outlined in the 2025 National Budget Law, all aimed at bolstering transparency and strengthening institutional compliance:

• Internally Generated Funds (IGFs): Section 4 mandates that all IGFs must be deposited into the Consolidated Fund Account. Spending entities are required to submit monthly and quarterly reports detailing the utilization of these funds.
• Quarterly Reporting: All spending and revenue-generating agencies are obligated to submit comprehensive expenditure reports to the Legislature by the 15th day following the close of each quarter. The final quarter report for 2025 is due by January 31, 2026.
• Revenue Administration: The Liberia Revenue Authority (LRA) is tasked with ensuring timely tax collections, including arrears and contributions from State-Owned Enterprises (SOEs), and remittances in accordance with agreements such as LISCR.
• Sectoral Allocations:
  • The Liberia Immigration Service (LIS) is authorized to retain 5% of revenue generated from visa and residence permit services to improve real-time service delivery.
  • The Liberia Telecommunication Authority (LTA) may utilize up to 8% of its revenue share for implementing nationwide ICT and digital transformation initiatives.
• SOE Oversight: The Bureau of State Enterprises (BSE) is mandated to conduct monthly monitoring of all SOEs and lead a debt vetting process to address both collectible and uncollectible debts.
• LRA Rights: The LRA is granted viewing and garnishment rights over the internal revenue-generating accounts of all revenue-generating entities, including SOEs.

As this inaugural hearing sets the precedent for fiscal transparency in 2025, the Committee encourages constructive contributions from its colleagues, government agencies, civil society organizations, the press, and the public. Suggestions for legal and procedural reforms that can enhance the performance of the hearing process are welcomed in the collective interest of the Liberian people.