Monrovia, Liberia – The Liberian government’s Fiscal Year (FY) 2026 Budget process has begun through the Ministry of Finance and Development Planning (MFDP). The launch which took place Tuesday, July 15, 2025 at the EJS Ministerial Complex in Congo Town, marks the commencement of the first phase of the FY2026 national budget formulation, in line with the Amendment and Restatement of the Public Financial Management (PFM) Act and Regulations of 2009.
Augustine Kpehe Ngafuan, Liberia’s Finance Minister, stated during the unveiling that the FY2026 process will educate spending entities on the planning and procedure steps that lead to the creation of the 2026 Budget Preparation.
The Minister also emphasized how crucial it is to make sure that every dollar in the national budget is distributed effectively, openly, and in a way that directly benefits the Liberian people. “The 2026 national budget must be a credible tool to improve the quality of life for all Liberians, decrease poverty, and expedite delivery, not just a financial document.”
Agriculture, education, sanitation, infrastructure, health, and tourism are among the government’s top goals for the upcoming year, according to Minister Ngafuan. These industries are thought to be essential to changing Liberia’s economy and tackling long-standing development issues.
The Minister emphasized the importance of inclusive and realistic budgeting, explaining that this year’s process would use baseline and results-driven budgeting techniques, bolstered by medium-term planning to guarantee that allocations are based on real-world results.
According to him, cooperation across ministries and agencies as well as stakeholder involvement would be essential to the budget formulation process.
The Minister said, “Budgets must be a social contract between the government and its citizens, not just a reflection of numbers. We need to develop roads, help our farmers, outfit schools, advance healthcare, and develop the tourism industry.”
The finance minister of Liberia also emphasized the need of setting priorities for flagship projects and being realistic with predictions. Ministries and agencies are also urged to submit budget proposals that are in line with national objectives and quantifiable outcomes.
Minister Ngafuan, however, praised Liberia’s historic domestic income creation in 2024, surpassing LRD 698 million, the most in the country’s history. He said that strong changes and improved compliance allowed revenue objectives to be exceeded in spite of early-year budgetary difficulties.
“For meeting our income goals, we are proud of the Liberia income Authority and partner institutions’ teams. According to the Minister, this illustrates our ability to mobilize domestic resources to finance growth.”
He noted the importance that foreign partners like the African Development Bank and the IMF have played in bolstering Liberia’s institutional capabilities and budgetary management. He clarified that infrastructure and energy were highlighted as the main growth-restraining factors.
The Minister highlighted continuing efforts to execute the Liberia Energy Compact, which seeks to increase power availability from 33% to 75% by 2030, while also drawing attention to the high cost of electricity.
Regarding infrastructure, he commended ongoing road development initiatives, pointing to the successful building of new bridges and enhancements along lines like Ganta to Zwedru. These accomplishments are seen as essential to regional integration and economic inclusion.
