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The chairman of the Senate Statutory Committee on Ways, Means, Finance and Budget, has predicted a safe landing for the 2025 National Budget, after concluding hearing on the revenue component of the draft 2025 Budget, expressing hope that the execution of the 2025 budget will begin as of January 1, 2025.
Providing an overview following the climax of the hearing on Saturday, the Chairman of the Senate Committee, Bong County Senator Prince Moye indicated that the 2025 draft Budget was well structured by the Ministry of Finance and Development Planning taking into consideration the major needs of the Liberian People.
According to Senator Moye, in the spirit of transparency and an open budget process, the revenue hearing which had long been held behind “closed door” was opened to the Public based on the instruction of President Pro-Tempore, Nyonblee Karnga Lawrence.
Considering the analyses done on the revenue component of the draft instrument especially on the domestic revenue and International contributions, Senator Moye predicts that the 2025 budget which accounts for over eight hundred and fifty one Million United States dollars, will have a safe landing.
Based on the conclusion of the revenue hearing, he added that the Committee has reverted to committee room for any other revenue consideration or discussion.
Responding to inquiry on the failure of the National Port Authority and National Fishery and Aquaculture Authority to contribute their proposed contributions to the national Budget, Chairman Moye noted that the Liberia Revenue Authority will make further assessment and inform the committee with respect to said decision.
Chairman Moye disclosed that with the level of work being done by the committee, there is a prospect for discovery of other revenue sources which may further push the national budget to over Nine Hundred Million United States Dollars.
Following the conclusion of the revenue hearing, the Senate Ways, Means, Finance and Budget Committee attention is now concentrated on the hearings of the expenditure component of the budget which will commence today (Monday), with chairman Moye asserting: “We want to ensure that the Budget is passed before January 2025.”
