Monrovia, Liberia – As President Joseph N. Boakai leads the nation through what the finance minister called a pivotal period of economic management characterized by discipline, reform, and speed, Liberia enters 2026 with increased fiscal confidence and an aggressive push for implementation.
August Ngafuan, the Minister of Finance and Development Planning, stated at an end-of-year press conference in Monrovia that Liberia is in a unique and strategic position to start January 2 “in a get-set-ready-go mood” because the US$1.249 billion national budget was passed before the fiscal year began, avoiding the long-standing delays that have previously severely hampered budget execution.
This is the second consecutive year that the budget has been approved prior to the start of the fiscal year, the Minister stated. The accomplishment under President Boakai’s direction is described as historic based only on those factors. He pointed out that since Liberia gained its independence, no president had ever managed a national budget more than $1 billion USD.
The minister claims that the Boakai administration’s priorities going into 2026 include not just increasing revenue but also how swiftly and openly resources are used to spur growth. Particularly in the areas of infrastructure, energy, education, and rural development, ministries, agencies, and commissions have been directed to get ready for swift implementation.
The president is impatient with delay, and the Liberian people are impatient. We are dusting our boots. Ministries like Public Works are not waiting, he added. Ngafuan also compared the Ministry of Finance to the heart that pumps resources to all sectors, emphasizing that its job is one of coordination rather than intervention. “When we invest in energy or rural roads, we are empowering rather than interfering,” he stated.
Speaking about the form of debt pressures, Liberia’s Finance Minister said that debt management which he acknowledged has gotten less public attention than it merits—is a significant undertone of the 2026 picture. He revealed that the budget for debt service alone is over US$230 million, which is almost equivalent to the total amount allotted for health and education.
According to the law, debt service is the first claim on our income, and if Liberia’s debts are not properly managed, they might reach over US$317 million. He emphasized that if Liberia is to maintain its credibility abroad, payments to organizations like the World Bank are non-negotiable.
He claimed that in order to increase transparency, the government reorganized the budget framework, removing debt and other national obligations from individual ministry envelopes and placing them under general government expenditure. The minister claimed that this action strengthens accountability and prevents public misunderstanding.
Regarding political consensus and democratic discussion, the finance minister thanked the media, civil society actors, and the leadership of both houses of the Legislature for working together to successfully adopt the budget.
He said that Liberia’s open budget score has increased as a result of the heated public discussion surrounding the budget. “This argument demonstrates our nation’s democratic credentials. Minister Ngafuan clarified, “You don’t have to agree with us, but engage.”
According to Liberia’s Minister of Finance, the budget will officially usher in what officials refer to as a crucial implementation year under President Boakai, one that aims to convert fiscal scale into concrete development outcomes for 2026 and beyond, with presidential assent expected soon.
