MFDP Holds FY2025 Budget Execution Workshop for 108 Spending Entities and 18 SOEs

Monrovia, Liberia - Representatives of 108 spending entities and 18 State-Owned Enterprises (SOEs) have commenced a three-day workshop on Fiscal Year 2025 (FY2025) Budget Execution.

The 3-day workshop organized by the Ministry of Finance and Development Planning is being held under the theme: “Executing a Creditable, Efficient, and Effective Budget to Achieve the ARREST Agenda.”

 

At the opening session of the workshop held Thursday at the Ministerial Complex in Congo Town, the Minister of Finance and Development Planning, Hon. Augustine Kpehe Ngafuan, urged the Heads of Ministries, Agencies, and Commissions (MACs) to be meticulous in the execution of their budgets.

 

Minister Ngafuan stressed the importance of keeping focus on the priorities of the FY2025 Budget, while also ensuring compliance with the legal framework governing budget formulation, execution, and reporting.

 

He emphasized that the achievement of these approved priorities in line with the ARREST Agenda for Inclusive Development (AAID) will be key in the successful implementation of this year’s budget.

 

"The passage of the budget before the New Year is a historic achievement that has taken years to realize. It is now essential for Ministries, Agencies, and Commissions to effectively manage the resources available to them to make a meaningful impact on the lives of Liberians," said Minister Ngafuan.

 

The Minister expressed optimism about the prospects for improved budget execution in FY2025.

“Unlike last year, which faced transitional challenges, this year the process has proceeded smoothly – from budget submission and deliberation to passage by the Legislature and approval by the President. Everything has happened in a timely manner, and I am confident that we will see better execution this year,” he stated.

 

He further encouraged the MACs and SOEs to plan effectively for the fiscal year to ensure that their respective budgets are not exhausted prematurely. "Proper planning is critical to ensuring that your budgets last the full year and deliver the intended services to the Liberian people," Minister Ngafuan concluded.

 

Speaking earlier, Deputy Minister for Budget and Development Planning, Hon. Tanneh Brunson said budget execution comes with a huge responsibility to ensure that every dollar is allocated and spent in conformity with national objectives, principles, as well as, fiscal discipline and responsibility.

 

She said, “This workshop serves not only as a refresher but also as a capacity strengthening platform for policy makers and technical staff within spending entities in order to deepen their knowledge on Public Financial Management and specifically on budget execution.”

 

The workshop aims to equip participants with the necessary skills and knowledge to implement the FY2025 Budget efficiently, thus ensuring that Liberia's fiscal resources are utilized effectively and responsibly. It ends on Saturday, January 11.