Ministry Of Finance Submits 2024 Draft Recast Budget Amidst Allegations of Alteration

Published: August 16, 2024

Capitol Hill – The Ministry of Finance and Development Planning has submitted the 2024 Draft Recast Budget to the House of Representatives, responding to the need for budgetary adjustments based on recent economic performance.

By Gibson Gee, Contributing Writer

Acting Finance Minister Anthony Myers presented the revised budget on Friday, August 16, highlighting that the submission is aimed at realigning government expenditures in light of the first half of the year’s performance and the need to protect critical spending priorities.

In his statement, Myers explained, “The submission of the recast budget is based on our observations from the first six months of the year. We need to rebalance the budget to address revenue performance and safeguard critical expenditures that are essential for the country’s development.”

Upon receiving the Draft Recast Budget, House Speaker Cllr. J. Fonati Koffa called on the Ministry to submit all relevant supporting documents. He noted that these documents would assist the Ways, Means, and Finance Committee in conducting a thorough examination. Koffa also introduced additional measures to enhance the budget process amid allegations of budget alterations.

“We remain steadfast in our commitment to combat corruption and ensure the highest standards of transparency and accountability in government operations,” Speaker Koffa remarked.

To address concerns over possible budget manipulation, Speaker Koffa announced the formation of a special investigative committee. This committee will be chaired by Bong County Electoral District 4 Representative Robert Wongbe and co-chaired by Montserrado County Electoral District 7 Representative Emmanuel Dahn. The committee’s membership also includes Hon. Thomas Romeo Quioh, Hon. Sekou Kanneh, and Hon. Sumo Mulbah.

The original FY2024 budget, approved by the 55th Legislature in April, was set at $738.8 million—6.7% more than the $692 million initially proposed by the Executive branch. The introduction of the recast budget underscores the government’s effort to adjust financial plans to better reflect economic realities while maintaining essential services and developmental priorities.