2019/2020 Budget US$532,906,966.00 Finally Submitted
As long last, the 2019/2020 draft budget has finally been submitted by the Minister Finance and Development, Planning, Samuel Tweah along with the Deputy Minister of Budget MFDP Madam Tannie Brunson to the Speaker of the House of Representatives, Bhofal Chambers, with an envelope size of US$532,906,966.00 (Five Hundred Thirty Two Million Nine Hundred Six Thousand Nine Hundred Sixty Six United States Dollars)
Receiving the instrument, Speaker Chambers who received the fiscal instrument, thanked the MFDP authorities for the submission. Speaker Chambers says though the budget is being presented late, but it is proper that it is done well then presented sooner without it properly written for Legislative action.
During the Presentation ceremonies, Finance Minister Samuel Tweah informed Speaker Chambers that President Dr. George Manneh Weah is committed to fighting fraud and abuse of resources.
Minister Tweah says government is making significant efforts to pay domestic vendors in the amount of 35M (Thirty-five million United States dollars). The Minister furthers that issue of the wage-bill is being seriously considered. He said what government is doing is payroll-harmonization, and not a wage cut as it has been speculated, describing it as a revolutionary exercise.
Minister Tweah disclosed that government wage-bill in 2018/2019 fiscal year was 330M (Three hundred thirty million); but with the harmonization, the new wage-bill for 2019/2020 will now be 297M (Two hundred ninety-seven million).
He added that government has put in place strong revenue measures which will ensure 22M in new revenue, (Twenty-two Million United States dollars), during the new budget year.