Liberia’s House of Representatives Committee on Ways, Means, and Finance Launches Revenue Hearings for FY2025 National Budget.

By: Melvin Flomo

The House of Representatives Committee on Ways, Means, and Finance has launched revenue hearings on Liberia’s proposed $851.76 million national budget for fiscal year 2025. The process commenced following the submission of the draft budget by the Executive Branch on November 18, 2024, to Deputy House Speaker Thomas P. Fallah, preceding the election of Montserrado County District 11 Representative Richard Nagbe Koon as Speaker.

According to the draft, $791.76 million, or 93% of the projected revenue, is expected to come from domestic sources, while $60 million, or 7%, will be sourced externally. Deputy Acting Finance Minister Tanneh G. Brunson highlighted that $745.69 million is forecasted as recurrent revenue, reflecting a 10% increase compared to FY2024. The budget allocates $315.17 million for employee compensation, supporting new health workers and teachers, and enhancing salaries in social and security sectors.

Meanwhile, Committee Chairman Representative P. Mike Jury underscored the importance of legislative oversight in the budgeting process. He pledged robust monitoring to ensure fiscal discipline, including enhanced revenue collection measures for the Liberia Revenue Authority (LRA) and reviews of quarterly performance reports.

Deputy Commissioner General for Technical Affairs at the LRA, Gabriel Montgomery, reported a record-breaking revenue collection of $619.9 million in FY2024, representing 84% of the target. For FY2025, the LRA aims to generate $851.8 million, comprising $833 million as core revenue and $18.8 million as contingent revenue. Montgomery emphasized the need for collaborative efforts and innovative strategies to achieve this ambitious target.

Moreover, the proposed expenditures are aligned with the government’s Accelerated Agenda for Inclusive Development (AAID), which prioritizes investments in social services, infrastructure, and governance reforms. Brunson stated that these measures are designed to address Liberia’s critical development challenges and promote sustainable growth.

Additionally, the opening session of the revenue hearings was attended by key legislative leaders, including Speaker Richard Nagbe Koon, Deputy Speaker Thomas P. Fallah, committee members, and officials from the Ministry of Finance, Development Planning, and the LRA. Other revenue-generating entities also participated.

While the opening proceedings were public, subsequent hearings will take place behind closed doors as per the House of Representatives’ standing rules. These sessions will allow for detailed discussions on revenue strategies and projections before transitioning to expenditure hearings focusing on the utilization of the budget by spending entities.

The revenue hearings reflect Liberia’s commitment to fiscal transparency and accountability. They also set the stage for deliberations that aim to ensure prudent budgeting and strategic investments to advance national development priorities.

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