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Home Business News Economy

Government Plans Major 2025 Investments in Healthcare and Education

by Contributor
November 26, 2024
in Economy
Reading Time: 3 mins read
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Ministry of Finance and Development Planning Forwards Former Staff to LACC for Investigation, Prosecution

Monrovia – The Boakai-Koung administration has announced plans to prioritize healthcare and education in its Draft Fiscal 2025 Budget, reflecting efforts to address key challenges and improve living standards for Liberians.

Finance Minister Augustine Kpehe Ngafuan revealed that the government intends to allocate US$7 million to education and US$14 million to healthcare and sanitation. These allocations are part of the administration’s push to enhance essential public services and address pressing national needs.

Healthcare and Salaries
The proposed healthcare investments include salary increases for nearly 28,200 government workers—about 45% of the public sector. Nurses, midwives, and physician assistants will see an additional US$50 per month, while other healthcare professionals will receive raises of US$25 to US$40, depending on their roles.

Agricultural and security workers, including members of the Armed Forces, police officers, and agriculture extension staff, are also set to receive monthly raises of US$30 to US$40. The government plans to begin integrating volunteer workers from the Ministries of Health and Education into its payroll, with US$2.6 million allocated to kick-start this multi-year process following vetting.

Support for Teachers
Ngafuan announced that nearly US$3 million will go toward salary adjustments for approximately 2,000 teachers with C-certificates, B-certificates, or higher qualifications, ensuring that pay reflects their credentials. This measure addresses long-standing complaints about salary disparities among educators.

Boosting Health Professionals and Security
To strengthen Liberia’s health system, the government plans to increase specialist doctors’ salaries by at least US$225 per month starting January 2025, aiming to retain skilled professionals. Additionally, over 5,000 Liberia National Police officers will receive fully funded insurance under the implementation of the National Security Act of 2015, marking a major step in addressing their welfare.

Economic Challenges and Prospects
Despite concerns raised by some citizens, there is growing support for the proposed budget initiatives. Inflation has dropped from 10.1% in 2023 to an average of 7.7% in 2024, with a projected decline to 6.6% in 2025. GDP growth has also risen, climbing from 4.7% in 2023 to 5.1% in 2024, and is expected to hit 5.8% in 2025.

Strategic Investments in Key Sectors
The government is ramping up investment in infrastructure, agriculture, and manufacturing to sustain economic growth. Planned allocations include US$7 million for agriculture, US$52.9 million for infrastructure, and US$37.6 million for road rehabilitation to improve national connectivity. These initiatives are part of the administration’s ARREST Agenda for Inclusive Development, which focuses on economic growth and modernization.

Addressing Currency Depreciation
The Ministry of Finance acknowledged public concerns over the recent depreciation of the Liberian dollar but assured citizens that market conditions are expected to stabilize. Factors such as inward remittances and currency hoarding have contributed to the situation, but price adjustments are anticipated as businesses adapt to the current exchange rate.

A Vision for the Future
The administration remains optimistic about Liberia’s economic trajectory. Through targeted investments in infrastructure, the mineral sector, and key reforms in energy, trade, and financial services, the government projects average annual growth of 5.9% from 2025 to 2029 under its ARREST Agenda.

Tags: FY 2025 National Draft Budget
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