Executive Submits US$785.5M AS FY2022 Draft National Budget To House Of Representatives
The Executive Branch of Government under the leadership of President George M. Weah through the Ministry of Finance and Development Planning has submitted the Draft National budget for calendar year January 1 to December 31, 2022, to the National Legislature.
The budget is in the tone of US$785,587,340.00. Finance Minister Samuel Tweah presented the draft fiscal instrument to House Speaker Dr. Bhofal Chambers on Thursday, November 18, 2021 and arguably said is the highest budget envelope ever in the Country.
The submission is in-line with section 65 of the amendment and restatement of the PFM act of 2009, which provides for the change in the fiscal year and for the formulation of a special national budget of six months to pave the way for transition to the new fiscal year, which begins in 2022.
Finance Minister Tweah at the submission of the projected National budget on Thursday said the agriculture sector has been increased by 60.5%; Energy and Development Sector 76.1%; security sector by 9.1%, as well as Health sector by 12.3%.
House Speaker Dr. Bhofal Chambers receiving the budget expressed hope that the draft National budget will serve the best interest of the people.
Speaker Chambers said: “We are thankful for the submission, though coming late, but better late than never. we hope it will serve in the best interest of our people. In consultation with you, we hope to do the best we can, and hope that this agenda centers around radical thinking of the pro-poor agenda for prosperity and development could be enhanced with the collective support of everybody.
According to Speaker Chambers, the Legislature base on constitutional provision of article 34d, will do what is required of that body.
“Having said that, based on our constitution, article 34 d, we will do what is required of us. We will do and shall commit ourselves to doing it. We expect that the Senate in the same way will cooperate or coordinate other activities of the draft budget”.