Capitol Hill, Monrovia – The House of Representatives has received the Government of Liberia’s proposed national budget for Fiscal Year 2026, which is estimated to be worth US$1.2 billion. On behalf of President Joseph Nyuma Boakai, Augustine Kpehe Ngafuan, Minister of Finance and Development Planning, formally submitted the text to Speaker Richard Nagbe Koon on Friday night.
In order to assist the Ministry of Finance and Development Planning in completing income forecasts and expenditure priorities, President Boakai requested a short delay earlier this week. The desire to preserve what they described as a “credible and comprehensive” fiscal structure was agreed by lawmakers.
The 2026 draft budget, according to Minister Ngafuan, is based on the government’s income performance during this fiscal year and represents the administration’s top priorities. Presenting the Fiscal Year 2026 draft budget,Ngafuan stated, “This document, which aims to maintain fiscal discipline while coordinating spending with national priorities, is based on performance during the first half of the current fiscal year.”
Compared to the about $738 million in the FY2025 budget, the $1.2 billion proposed is a significant increase. According to the draft FY 2026 Budget, domestic revenue accounts for US$1.13 billion (94%), while external resources represent US$72 million (6%). Domestic revenue projections include Tax Revenue of US$726.97 million, Non-Tax Revenue of US$83.92 million, Mittal Sign-on Bonus of US$200 million, and Contingent Revenue of US$28 million. While pointing out that spending will still be constrained by available resources, Ngafuan credited the increase to increased domestic income collection and the addition of new public investment commitments.
The budget will be sent to the House Committee on Ways, Means, and Finance for assessment, according to Speaker Koon, who confirmed receiving the document. Before launching public hearings with representatives from ministries, agencies, civil society, and development partners, the committee is expected to begin its preliminary deliberations this week.
The Finance Ministry states that the FY2026 draft budget prioritizes ongoing infrastructure projects, steps to stabilize the economy, and more funding for agriculture, health, and education. It also emphasizes improved spending controls throughout the government and tax improvements at the Liberia tax Authority. Throughout the review process, the Legislature is expected to make changes and recommendations before approving the final budget
