Boakai Submits US$1.2 Billion FY2026 Draft Budget to Legislature

Published: November 7, 2025

Two men standing in an office, holding a spiral-bound budget document together, with shelves and framed certificates in the background.

CAPITOL HILL — The Government of Liberia has submitted its proposed Fiscal Year 2026 national budget to the House of Representatives, amounting to approximately US$1.2 billion. Finance and Development Planning Minister Augustine Kpehe Ngafuan formally presented the draft to Speaker Richard Nagbe Koon on Friday evening on behalf of President Joseph Nyuma Boakai.

The submission follows President Boakai’s request for a brief extension earlier in the week, intended to help the Ministry of Finance and Development Planning finalize revenue projections and spending priorities. Lawmakers approved the request to maintain what they called a “credible and comprehensive” fiscal framework.

Minister Ngafuan informed lawmakers that the 2026 draft budget is based on the government’s revenue performance during this fiscal year and reflects the administration’s priority programs.

“It is my distinguished honor to present the draft budget for Fiscal Year 2026,” Ngafuan said. “This document is informed by performance over the first half of the current fiscal year and seeks to align spending with national priorities while maintaining fiscal discipline.”

The $1.2 billion proposal represents a notable increase from the approximately $738 million in the FY2025 budget. Ngafuan attributed the rise to improved domestic revenue collection and the addition of new public investment commitments, while noting that spending will still be limited by available resources.

Speaker Koon acknowledged receipt of the budget and said it will be forwarded to the House Committee on Ways, Means and Finance for review. The committee will begin its initial deliberations next week, followed by public hearings that will involve ministries, agencies, civil society representatives, and development partners.

According to the Finance Ministry, the FY2026 draft budget focuses on economic stabilization measures, ongoing infrastructure projects, and increased support for health, education, and agriculture. It also highlights revenue reforms at the Liberia Revenue Authority and enhanced expenditure controls across the government.

The Legislature is expected to make adjustments and recommendations during the review process before passing the final budget. If approved, the FY2026 national budget will take effect on January 1, 2026, marking the second full fiscal year under President Boakai’s administration.