February 22, 2024

House of Representatives Approves Fiscal Year 2023 budget at $794,532,682.00.

Members of the House of Representatives of Liberia yesterday, February 21, 2023, voted yes to approve the passage of the draft budget for the fiscal year 2023 in the amount of US$794,532,682.00 after contentious debates and arguments over significant payments for counties.

The draft envelope for FY-2023 was initially filed at US$777,953,000.00. After a report from the Ways, Means, and Finance committee, plenary took action on Tuesday, February 21, 2023. According to the committee’s statement, it examined the Fiscal Year 2023 Draft Budget closely and rigorously, starting with the Revenue Envelope, as instructed by the Plenary.

The Committee also stated that it had hearings with all significant revenue-generating organizations, including State Owned Companies (SOEs), the Liberia Petroleum Refining Corporation, Liberia Maritime Authority, National Port Authority, and Liberia Telecommunication Authority.

The Liberian Senate is yet to approve the document.

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