Budget Director Presents Draft 2007/08 Budget to Cabinet

Friday, 9th March 2007
President Sirleaf, Vice President Boakai, Finance Minister Antoinette Sayeh, and other members of the cabinet.
President Sirleaf, Vice President Boakai, Finance Minister Antoinette Sayeh, and other members of the cabinet.
Photo Credit: James Garessen, II/Executive Mansion
Monrovia, Liberia - The Director of Budget Bureau, Mr. Augustine K. Ngafuan, has been briefing members of the Cabinet on the draft for the 2007/08 National Budget.

According to the Budget Calendar of Events, Budget Hearings are to begin on March 19 and end on the 30th, while the Final Draft of the Budget is slated to be submitted to the President on May 8, 2007.

The President, in keeping with the Calendar of Events in the Draft Budget, is to submit the Draft budget to the National Legislature on May 15, 2007.

The 2007/08 Draft Budget is being guided by the Interim Poverty Reduction Strategy Paper, which serves as the Policy Framework of the Budget. The IPRSP, according to the draft budget are policy priorities of the 07/08 Budget, has as its key pillars, consolidating the Peace; Revitalizing agriculture; and Rebuilding the economic and social infrastructure, as well as Promoting good governance and the rule of law and strengthening the environment for private sector growth. Budget requests, Director Ngafuan stressed, must accordingly be linked to IPRSP objectives.

Meanwhile, the draft budget for Fiscal Year, 2007/08 has allocated US16-million dollars for salary adjustment. The rational and methodology of distribution, Budget Director, Ngafuan told the Cabinet, will be worked out later by the Cabinet.

The Revenue Projection for the 2007/08 budget is put at US$150.7 million dollars, representing a 16-percent change from last yearís budget, which had a total revenue projection of US$129,917,259.