House To Review Weah’s First Budget in One Month


The House of Representative has received the 2018/19 Fiscal Budget and forwarded it to its committees on Ways, Means, Finance and Development Planning, and Public Account and Expenditure for a one-month scrutiny following which the committees will make a report to the body.
The 2018/19 annual budget as submitted by President George Manneh Weah, is in the tone of $US562.2 million, representing a 0.002 percent reduction from the US563.5 million approved in fiscal 2017/18, but a five percent increase compared to the fiscal year 2017/18 recast budget.
As received by the assigned committees on Tuesday, Domestic Revenue, as contained in the projected resource envelope, accounts for US$$498.2 million or 89 percent, while grants constitute US$63.9 million or 11 percent.
Domestic revenue is subdivided into component parts of tax revenue which accounts for US$402.8 million or 81 percent, and non-tax revenue which represents US$95.4 million or 19 percent.
As it relates to expenditure priorities, the expenditure portfolio is estimated at US$562.4 million, consistent with revenue projected and in compliance with the principle of balanced budget.
Expenditure is subdivided into US$488.7 million or 87 percent, for recurrent expenditure and US$73, 4 million or 13 percent for Public Sector Investment Plan (PSIP).
In his submission, the Liberian leader informed the House that the 2018/19 budget seeks to prioritize interventions in Education, Health, Infrastructure, Municipal and Social Development Services Sector.