The Honorable House of Representatives, through its Committee on Ways, Means, Finance, and Development Planning, today convened the first Quarterly Budget Performance Hearing in keeping with its statutory mandate under the Public Financial Management (PFM) Law and the 2025 National Budget Law. Addressing the hearing, the Chairman of the Ways, Means, and Finance Committee, Hon. P. Mike Jury underscored the need for the national budget to serve as a “financial document of reality” and a “tool for transformation measurable by the quality of services delivered to the Liberian people.” He reaffirmed the Committee’s commitment to working in collaboration with the Executive Branch in pursuit of a national budget that surpasses the one-billion-dollar mark. Hon. Jury stated that the Committee continues its efforts to curb revenue leakages and improve fiscal accountability. These leakages caused by inefficiencies, billing errors, tax evasion, and mismanagement undermine Liberia’s revenue potential. Addressing these issues remains central to achieving financial discipline and effective budget execution.
He stressed that the 2025 National Budget Law outlines several key fiscal provisions aimed at enhancing transparency and strengthening institutional compliance: Section 4 mandates that all internally generated funds (IGFs) be deposited into the Consolidated Fund Account. Spending entities are required to submit monthly and quarterly reports detailing the use of these funds. Quarterly Reporting: All spending and revenue-generating agencies must present comprehensive expenditure reports to the Legislature on or before the 15th day following the close of each quarter. The final quarter report is due by January 31, 2026. Revenue Administration: The Liberia Revenue Authority (LRA) is tasked with ensuring timely tax collections, including arrears and contributions from State-Owned Enterprises (SOEs), and remittances in accordance with agreements such as LISCR. Sectoral Allocations:
The Liberia Immigration Service (LIS) is authorized to retain 5% of revenue from visa and residence permit services to improve real-time service delivery. The Liberia Telecommunication Authority (LTA) may use up to 8% of its revenue share for implementing nationwide ICT and digital transformation initiatives. SOE Oversight: The Bureau of State Enterprises (BSE) is to conduct monthly monitoring of all SOEs and lead a debt vetting process aimed at addressing collectible and uncollectible debts. The LRA is also granted viewing and garnishment rights over internal revenue-generating accounts of all revenue-generating entities, including SOEs. As this first hearing sets the tone for fiscal transparency in 2025, the Committee calls on its colleagues, government agencies, civil society organizations, the press, and the public to contribute constructively. Suggestions on legal and procedural reforms that can enhance the performance hearing process are encouraged in the collective interest of the Liberian people.
