Cpitol Hill, Monrovia – Following hours of discussion and a formal submission from the Joint Committee on Ways, Means, Finance and the Public Accounts Committee (PAC), the House of Representatives adopted Liberia’s 2026 national budget on Thursday, approving US$1,211,085,220 billion.
Grand Gedeh District #1 Representative Jeremiah Garwo Sokan made the move for approval, which was swiftly and overwhelmingly seconded, leading to the passage. This was one of the most important decisions made by the Legislature this session, with 42 votes in favor, two against, and no abstentions.
The Joint Committee stated in its report that it thoroughly examined the proposal before recommending its passage. The report said, “The Joint Committee is pleased to inform Plenary that the fiscal year 2026 budget is ready for passage after careful examination of the draft budget.”
Based on the Central Bank of Liberia’s average exchange rate of LRD 198.3 to US$1, it verified the fiscal amount at LRD 247,886,866,647.44, or US$1,249,665,191.15. The committee stated that the CBL’s monthly publicized market rate will be followed for payments delivered in operation.
A number of policy directions intended to improve domestic revenue mobilization, fiscal restraint, and governance are incorporated into the approved budget. According to the documents, a full reconciliation of all transitory income accounts, mandatory monthly ECOWAS Levy deductions, 5% revenue retention for the Ministry of Labor and Liberia Immigration Service, and 50% retention for the Liberia Telecommunications Authority were all approved.
The document also included quarterly financial and performance reports from all ministries, agencies, and SOEs; no additions to government payroll without MFDP authorization; the reconciliation of the Consolidated Fund Account, which is due by March 31, 2027; and the enforcement of the US$0.30 Road Fund levy on petroleum imports.
Additionally, the approved document advocates for the immediate transfer of Social Development Funds to county escrow accounts, the mandatory distribution of 25% of procurement proceeds to Liberian-owned companies, and the revenue-sharing of excess real property taxes between the federal and local governments.
The following is how the Joint Committee described the fiscal structure for 2026:
US$1,249,665,191.15 in adjusted revenue, US$993,463,275.45 in core revenue, US$256,201,915.70 in contingent revenue, US$993,463,275.45 in core expenditure, and US$256,201,915.70 in contingent expenditure.
In accordance with legal requirements, the report reiterated that all tax revenues and fees must be transferred into the Consolidated Fund Account.
While Speaker Richard Nagbe Koon praised the Joint Committee for what he called a “rigorous and exhaustive review process,” pointing out that prompt approval guarantees ministries and agencies may start planning for the upcoming fiscal year without interruption.
Representatives Frank Saah Foko and Musa Hassan Bility, two law marks, voted against the bill. Bility cautioned that overly ambitious projections could cause financial strain during implementation, arguing that some revenue expectations were not based on reasonable assumptions for collection.
Foko stated that accountability procedures should be implemented prior to budget approval rather than after, citing ongoing flaws in financial reporting, reconciliation, and oversight of state-owned businesses. Despite being unsuccessful, their complaints highlighted the continued parliamentary concern about budget execution transparency.
If completely implemented, the integrated structural reforms, according to other parliamentarians, might boost fiscal discipline throughout the government and enhance revenue performance. The budget is now on its way to the Liberian Senate for ratification after being approved by the House. The expenditure package will function as Liberia’s financial plan from January 1 to December 31, 2026, after it has been approved by the upper house and printed as a handbill.
