Boakai’s 2027 Budget Rests on US$1.54 Billion Revenue Projection

Published: November 6, 2026

CAPITOL HILL, Monrovia – The Boakai administration projects US$1.54 billion in revenue for 2027, about 23 percent more than the record budget lawmakers approved this year, and has asked the Legislature to base next year’s national budget on that figure.

Finance and Development Planning Minister Augustine Kpehe Ngafuan delivered the draft to House Speaker Richard Nagbe Koon at the Capitol on Friday, six days after the Oct. 31 statutory deadline. On Oct. 30, President Joseph Nyuma Boakai had written lawmakers requesting more time.

“There’s one thing the President has authorized me to say, to convey to you and your colleagues: the size of the budget for 2027. For 2027, the draft budget size encapsulates a revenue projection of US$1.54 billion,” Ngafuan said.

Ngafuan did not break down the projected revenue or spending, leaving the details to the accompanying budget document.

The projection compares with the US$1.21 billion draft the government submitted for 2026 last November and the roughly US$1.25 billion budget the Legislature passed in December 2025, the first in Liberia’s history to exceed US$1 billion.

Koon said lawmakers would scrutinize the document and pledged to finish on schedule.

“We will pass it in time. Thank you so much for coming, and please convey our message to the President,” he said.

The Speaker also called for larger allocations to health and education.

“With this budget, we can increase the health sector budget, education and mainly working people,” Koon said. “We appreciate the presentation. We just hope that we will work along this budget to satisfy our reasonable needs.”

In his Oct. 30 letter, Boakai said the extra time would allow the Ministry of Finance and Development Planning to refine revenue forecasts, identify available and potential revenue sources and improve allocations among competing national priorities. He said he wanted to submit a comprehensive and credible fiscal framework.

Ngafuan said Friday’s submission fulfilled the Public Financial Management Law’s requirement that the President transmit the proposed budget to the Legislature.

The draft now goes to legislative committees for hearings before votes in both chambers. Liberia’s fiscal year runs with the calendar, so the budget is due to take effect Jan. 1.