MONROVIA – The Government of Liberia, through the Ministry of Finance and Development Planning (MFDP), is set to officially launch the Fiscal Year 2026 National Budget Process today, July 15, at the Ministerial Complex in Congo Town. The announcement, made in a press release issued by the Ministry on Monday, July 14, signals the beginning of the country’s national budget formulation for the upcoming fiscal year.
This launch represents the first phase in crafting the FY2026 national budget and aligns with the Amendment and Restatement of the Public Financial Management (PFM) Act and its 2009 Regulations. The process is intended to inform government spending entities about the procedures and requirements necessary to develop their respective budget proposals for the next fiscal year.
At the heart of today’s ceremony is the formal release of Budget Call Circular 1 (BCC1), a document that offers critical guidance to Ministries, Agencies, and Commissions in the development of their strategic plans, programs, and preliminary budget submissions. BCC1 emphasizes alignment with the ARREST Agenda for Inclusive Development (AAID), which serves as the administration’s principal development roadmap.
Issued under Section 17 of the amended PFM Act and Sections 15 and 16 of the amended PFM Regulations, BCC1 also lays out a comprehensive timetable for the preparation and submission of the Budget Framework Paper and the Draft National Budget for the fiscal period 2026–2028. It includes indicative spending ceilings for both recurrent and capital expenditures, while also presenting a detailed budget calendar and instructions on how entities should prioritize activities within available fiscal limits.
The FY2026 Draft National Budget will be the fifth to follow Liberia’s new fiscal year format (January 1 to December 31), and the third crafted under President Joseph Nyuma Boakai’s administration. According to the Ministry, this year’s budget process will begin with a Strategic Phase designed to ensure early identification of national priorities, policy goals, and spending targets.
The approach, the Ministry says, is meant to enhance performance-based budgeting and reinforce the government’s commitment to transparency, accountability, and results-oriented public financial management.
Today’s launch will bring together heads of government Ministries, Agencies, and Commissions, as the MFDP seeks to foster collaboration and early engagement in what it calls a more inclusive and disciplined budget formulation process.
Like this:
Like Loading…
