Executive Branch holds Orientation On FY2024 Nat'l Budget

The Ministry of Finance and Development Planning(MFDP) through its Department of Budget and Development Planning has begun a three-day executive orientation/workshop on the FY2024 National Budget.

The orientation, which is being held at the Paynesville Town Hall, aims to fortify the collective understanding and proficiency of government institutions in fiscal governance and management.

Given the overview of the workshop Wednesday, May 8, 2024 in Paynesville outside Monrovia, Assistant Minister for Budget Sarah McGill Mulbah said as the government is endeavoring to navigate the processes of budget planning, execution, and reporting, it is important that the government institutions equip themselves with a comprehensive understanding of requisite laws, regulations, policies and procedures that have been developed for guiding.

According to her, the overarching objective of the workshop is to provide a platform for policymakers and technical staff within spending entities to deepen their knowledge of public financial management and specifically the budgetary landscape, with a specific focus on the execution of the FY2024 Budget and the preparation of the FY2025 Draft Budget.

"Through interactive sessions and informative presentations, we aim to enhance your familiarity with key fiscal policies, processes, and compliance indicators, while also addressing potential challenges and mitigation strategies," Minister McGill narrated.

The Assistant Minister for Budget at MFDP indicated that it is important that key stakeholders are involved to ensure a comprehensive approach, thus representations from the General Services Agency (GSA), Civil Service Agency, Public Procurement Concessions Commission, Liberia Anti-Corruption Commission, Internal Audit Agency; stating that the General Auditing Commission is key to these processes.

"Our anticipated outcomes include increased compliance with the legal framework governing budget formulation, execution and reporting, heightened awareness of key legal ramifications, and a deeper understanding of budgetary processes and challenges," she noted.

Moreover, Minister McGill said that the Ministry of Finance anticipates fostering enhanced inter and intra-governmental coordination, thereby promoting efficiency, accountability, and the responsible use of public funds.

"I am pleased to note that this workshop targets all 108 spending entities, with each entity represented by a cross-section of key personnel. Through phased

implementation and careful segmentation, we aim to ensure maximum participation and engagement, thereby facilitating a meaningful exchange of

insights and experiences," she narrated.

She at the same time urged all participants to approach the workshop with enthusiasm and commit to active participation as, together, we have the opportunity to strengthen our fiscal governance practices and pave the way for sustainable development and prosperity for all Liberians.

For his part, Anthony G. Myers, Acting Finance Minister, described the FY2024 National Budget Executive orientation as the first of its kind under the administration of President Joseph Nyuma Boakai.

Minister Myers explained that the concept of having a budget execution workshop is to enable spending ministries and agencies to know what is before them when the budget is approved.

"We hold this kind of workshop to provide the technical details, policy contest and practical implementation mechanize for executing the budget," he said.

Also speaking, Executive Director, Integrity Watch Liberia Harold Aidoo explained that the essentials of Civil Society participation in the budget fiscal reforms and fiscal transparency are not intended for supervision purposes only to legitimize  the process but to satisfy the criterion of the global performance index.

"We are indeed happy for the new administration to see the value of civil society participation in governance processes," Aidoo stated.