Monrovia – The Unity Get together-led authorities has kicked off the formulation of the 2026 Nationwide Finances with renewed ambition and a aim to succeed in a historic US$1 billion mark.
By Jaheim T. Tumu, [email protected]
Finance and Growth Planning Minister Augustine Kpehe Ngafuan made the announcement throughout a price range planning launch held in Monrovia on Tuesday, describing the method as not solely a fiscal necessity however a defining second for Liberia’s financial route.
“We’re knocking on heaven’s door,” Minister Ngafuan declared, referencing the nation’s push towards the elusive billion-dollar goal. “Even when we meet the US$1 billion goal, problems with shortage will stay. However their grievance is optimistic — it displays ambition.”
Minister Ngafuan’s remarks stirred each optimism and warning. Whereas he lauded the nation’s latest fiscal progress, he was fast to remind stakeholders that actual change would require efficiency, self-discipline, and consistency throughout each authorities entity.
Minister Ngafuan pointed to the record-breaking income assortment in Fiscal 12 months 2024 as a basis for the nation’s renewed fiscal aspirations. He famous that home income hit practically US$700 million — marking the very best ever collected in Liberia’s historical past.
However past numbers, Minister Ngafuan painted an image of a authorities gaining recognition and credibility on the worldwide stage. He highlighted Liberia’s latest election to the United Nations Safety Council and its choice to host the ECOWAS Youth and Sports activities Growth Heart as proof of rising diplomatic respect.
“Our nation is revered globally,” he stated. “That international respect will translate to many dividends.”
In an surprising second that drew curiosity from attendees, Minister Ngafuan revealed that President Joseph Boakai had not too long ago held “fruitful conversations” with U.S. President Donald Trump throughout a visit to the USA — although he didn’t elaborate. “These international engagements will yield dividends. Your nation has been placed on a pedestal of respectability—and we’ll preserve it there,” he asserted.
Regardless of the inspirational tone, Minister Ngafuan delivered a stern message to authorities businesses and public establishments that more cash wouldn’t imply higher outcomes except there was a visual enchancment in effectivity and accountability.
“Two entities can get related budgets. One can ship greater than the opposite primarily based on execution effectivity, primarily based on ahead planning,” he defined. “When you’re making claims for extra assets, I’ve to be taking a look at your preparation for supply.”
He warned inside actors suspected of stalling implementation or working exterior accepted monetary protocols. “After we get info that you’re implementing your individual breaks — personal unapproved breaks — we’ll act accordingly. Everybody within the supply chain ought to take this very severely,” Minister Ngafuan stated.
He emphasised that allocations within the FY2026 Finances could be aligned with sectoral priorities, significantly in power, roads, and agriculture. “We should maintain deep-dive conversations on sectors like power and roads to make sure that allocations match sector-specific realities,” he added.
Minister Ngafuan acknowledged these constraints however remained resolute. “We’re not the place we wish to be, however actually not the place we have been years in the past,” he acknowledged.
Deputy Finance Minister for Finances, Tenneh Brunson, additionally delivered a pointed message, describing the nationwide price range as extra than simply numbers — it’s a social covenant.
“The nationwide price range is a social contract between the federal government and its residents,” Brunson stated. “The FY2026 nationwide price range should function a reputable financing instrument to speed up supply.”
She emphasised that the price range will align with President Boakai’s ARREST Agenda—with focus areas together with agriculture, the rule of regulation, training, sanitation, roads, and tourism. Brunson referred to as for medium-term planning, baseline budgeting, and performance-based allocations to drive affect and transparency.
Whereas the federal government’s fiscal ambition is excessive, early indicators from the FY2025 price range execution recommend severe hurdles. A report from the Home of Representatives’ Committee on Methods, Means, Finance, and Growth Planning revealed that the nationwide price range has already fallen quick by practically US$18 million within the first quarter.
The Ministry of Finance and Growth Planning projected US$201.66 million in income between January and March 2025. Nonetheless, precise collections amounted to solely US$183.81 million, translating to a efficiency fee of simply 91.1 p.c.
Rep. P. Mike Jury, Chair of the Committee, expressed concern: “The shortfall of US$17.85 million is regarding. We found delays in each tax and non-tax income collections. Extra troubling is the non-compliance of SOEs in assembly their monetary obligations to the nationwide price range.”
Rep. Jury added: “It is a wake-up name. We can not afford to lose floor on our growth agenda due to institutional laxity and disrespect for fiscal duty.”
The Liberia Income Authority (LRA) additionally reported underperformance, gathering US$336 million by the top of Could—falling US$7 million in need of its US$343 million goal. The LRA attributed this to weak compliance by revenue-generating establishments and state-owned enterprises.
In line with the Bureau of State Enterprises, solely 11 of 20 SOEs submitted quarterly stories—and solely 4 did so on time. For the quarter, SOEs have been anticipated to contribute US$12.37 million, however solely US$8.49 million was realized, leaving a deficit of US$3.88 million.
Liberia’s FY2025 Finances, which totals US$880.6 million, was signed into regulation in January 2025. Nonetheless, of that quantity, a staggering US$774 million — about 88 p.c — is allotted to recurrent expenditures.
This contains US$153 million for debt servicing, alongside heavy spending on public sector salaries, overseas journey, leisure, autos, gas, and each day subsistence allowances (DSAs). Such spending leaves little fiscal room for growth and capital investments.
Liberia continues to function with a comparatively low fiscal envelope in comparison with its neighbors within the area. It lags behind Sierra Leone, which boasts a national budget of roughly US$1.3 billion, Guinea at US$4.89 billion, and Ivory Coast with a substantial US$23.39 billion.
This isn’t the primary time a Liberian administration has set its sights on the elusive US$1 billion mark. For the reason that finish of the civil battle, successive governments have made related declarations. The earlier Coalition for Democratic Change (CDC)-led authorities additionally pursued this aim however failed to attain it throughout its six-year tenure.
Because the FY2026 price range course of unfolds, the Unity Get together-led authorities now faces the problem of turning ambition into execution. Analysts say its push towards a US$1 billion price range is commendable—however reaching it would demand pressing reforms, fiscal self-discipline, and sturdy institutional collaboration.
