Monrovia – President Ellen Johnson Sirleaf has approved and signed into law the National Budget for the 2016/2017 fiscal year, which runs from July 1, 2016 to June 30, 2017, US$600,204,076.
Of the total amount, US$524.9 million would be raised from taxes and non-taxes revenue; US$50.2 million in grants from external resources while unspent revenue from the FY2015/16 comprising US$2.0 million would be rolled over to the current fiscal year.
Irrespective of the decline in the 2016/17 National Budget, key sectors with net increases in appropriation for direct support to the country’s social service delivery plan embedded in the Agenda for Transformation (AfT) and the Economic Stabilization and Recovery Plan (ESRP) include health, agriculture, education and transparency.
The National Budget is apportioned between Recurrent Expenditure in the amount of US$520.5 million or 86.7% and the Public Sector Investment Projects (PSIP) with US$79.7 million or 13.3%
The key sectors which received substantial share of the total resource envelope include: Security US$94.8 million; Education US$86.2 million; Health US$77.4 million; infrastructure US$42.2 million; and agriculture US$11.9 million.
The release indicated that Government has maintained increased spending of US$34.6 million for ongoing road reconstruction works and maintenance, renovation of public buildings as well as US$4million for energy expansion and distribution.
Also, as a manifestation of its commitment to ensuring a smooth transition with the holding of a free, fair and transparent presidential and legislative election in 2017, US$20 million has been appropriated as government’s direct support to the National Elections Commission.
The health sector would receive US$77.4 million compared to the actual spending of US$72.6 million in the last budget year.
Additionally, other key areas, programs and entities that are slated to receive the needed funding in this year’s annual National Budget include: the University of Liberia, US$16 million; Water, Sanitation and Hygiene (WASH) services would receive US$2 million; Coastal Defense and Beach Cleaning, US$1.4 million; Tubman University and Booker Washington Institute, US$1.2 million.
US$10 million is being allotted to support UNMIL’s drawdown plan, while US$1 million is being appropriated for the Household Income and Expenditure Survey.