President George M. Weah has pleaded with the National Legislature for a twenty two-day delay within the submission of the nation’s Fiscal Year (FY) 2023 National Budget.
However, this newest attraction from the Liberian chief is in complete contravention of the New Public Financial Management (PFM) Law in 2021 which set the FY finances yr from January 1 to December 30 thus changing the July 1 to June 30 finances yr.
The PFM regulation of 2021 states: “The President of the Republic of Liberia shall submit the proposed Budget and accompanying documents to the Legislature no later than two months before the start of the Fiscal Year, thereby requiring the Legislature to be in Session.”
Additionally, Via this provision that calls for 2 months earlier than the beginning of the fiscal yr, this implies, the Executive department of authorities is already behind the discover set by the Public Financial Act, by the Executive requesting extra 22 days delay within the submission of the 2023 fiscal finances
But the Liberian Chief Executive, in his communication to that august assured the Lawmakers that regardless of the request for delay, the finances shall be put together and prepared for its January 1, 2023, implementation as said within the new fiscal coverage of the PFM regulation.
Justifying his causes for the delay, President Weah maintained that his authorities should conclude discussions concerning its subsequent monitoring and monetary coverage course that are largely geared toward attaining micro-economic stability.
Therefore, as a follow-up to the latest discussions on the World Bank annual assembly, an IMF fifth evaluation mission underneath the federal government of Liberia prolonged credit score facility program is in Monrovia to conclude its evaluation of our micro-economist growth and efficiency and our fiscal coverage outcomes and projection for the following fiscal yr.
The President’s communication additional, “Under the ECF program negotiation by ensuring adequate funding for the 2023 general and presidential elections, addressing an extra budgeting pressure to subsidize the current rice situation in the country as well as fund government institutions in order to remain operational without causing disruption during the elections.”
“It is important to also state that the severity of the impacts of the COVID-19 pandemic and the ongoing war in Ukraine on our domestic economy continued decline in the global commodities prices and coupled with expenditures demands on our meager domestic resources cannot be overemphasized but we remain committed to addressing these challenges,” he mentioned.
President Weah in his communication added, “So, it is my hope that the additional time requested will allow us to formulate a realistic and comprehensive FY2023 National Budget that reflects our current realities.”
“And during this extended period, I have instructed the Minister of Finance to commence sustained engagements with the Legislature and all spending entities in order to ensure a wider consultations and inputs to the formulation of the budget,” he famous.
Meanwhile, following the studying of the President’s communication, a movement was then proffered by Representative P. Mike Jury of Maryland County to just accept and invite the Minister Finance to clarify additional on purpose behind the attraction for extension of the finances submission.
It might be recalled that in 2021 the legislature handed a invoice titled: “An Act to Amend Section 1 of an Act Fixing Day for the Annual Adjournment of the Legislature of the Republic of Liberia. And to establish in lieu thereof “An Act Setting the Calendar of Adjournment for the Legislature.”
According to the proposed invoice, there shall be three adjournment and recess durations (often known as constituency go to/break). “The first constituency visit/break shall commence on the third Friday of March of each year and end on the second Friday of May of each year,” the invoice states.
“The second constituency visit/break shall commence on the third Friday of July of each year and end on the third Friday of October of each year; while the third constituency visit/break shall commence on the second Friday of December of each year and end on the Friday immediately preceding the second working Monday of January of each year in order to satisfy Article 32 (a) of the Constitution of Liberia.”
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