Finance and Development Planning Minister Augustine K. Ngafuan has issued a strong call for fiscal prudence and responsible budget management to cabinet ministers and heads of government spending agencies in Liberia. Speaking at the opening of a three-day workshop focused on effective budget execution for Fiscal Year 2025, Minister Ngafuan stressed the importance of curbing unnecessary expenditures and maximizing the impact of allocated funds. He emphasized that the allocated budget is intended to cover the entire fiscal year, urging officials to avoid a mindset of rapid spending based on truncated timeframes. This call for budgetary discipline comes as the government strives to ensure efficient utilization of its resources and achieve the development goals outlined in its national agenda.
The Minister’s address underscored the critical need for strategic planning and adherence to budget regulations. He advocated for quarterly and annual planning within government agencies, emphasizing that the size of the budget is less crucial than the efficiency of its allocation and spending. Different ministries might receive similar budgetary allocations, but their success will depend on their internal financial management practices. He urged officials to move beyond simply receiving budgetary allocations and focus on implementing strategies that ensure every dollar is used effectively. This proactive approach to budget management aims to optimize the use of public funds and drive tangible progress across various sectors.
The workshop, held at the Ellen Johnson Sirleaf Ministerial Complex, served as a platform for capacity building and reinforcing the principles of sound public financial management. It aimed to equip policymakers and technical staff with the necessary knowledge and skills to effectively execute the FY 2025 national budget, recently approved by the legislature at a record US$880 million. Minister Ngafuan emphasized that this substantial budget presents a unique opportunity to accelerate national development, but it also carries a significant responsibility to ensure accountability and transparency in its utilization. The workshop underscored the government’s commitment to using public funds judiciously and maximizing their impact on the lives of Liberian citizens.
Deputy Finance Minister for Budget, Madam Tanneh Brunson, echoed Minister Ngafuan’s sentiments in her introductory remarks. She highlighted the workshop’s significance as a testament to the government’s dedication to efficient budget execution and translating national development aspirations into tangible outcomes. She emphasized that the attendees were not merely representatives of their respective institutions but stewards of public trust, responsible for ensuring the optimal use of national resources for the benefit of all Liberians. This framing highlights the ethical dimension of budget management and the importance of responsible stewardship of public funds.
Madam Brunson underlined the substantial opportunity presented by the FY 2025 budget to drive meaningful progress across Liberia. She underscored the responsibility that accompanies this opportunity – the need to ensure that every dollar allocated aligns with national objectives, adheres to principles of fiscal discipline, and is subject to rigorous accountability measures. The workshop aimed not just to refresh existing knowledge but also to strengthen the capacity of government officials to navigate the complexities of public financial management, particularly in budget execution. This capacity building initiative seeks to ensure that public funds are managed effectively and contribute meaningfully to national development priorities.
The three-day workshop, attended by numerous officials from various government ministries, agencies, commissions, and development partners, served as a crucial step in strengthening Liberia’s public financial management system. It emphasized the importance of strategic planning, adherence to budget regulations, and a commitment to transparency and accountability in the utilization of public resources. The government’s focus on responsible budget execution underscores its commitment to maximizing the impact of public funds and achieving its development goals for the benefit of all Liberians. The workshop culminated on Saturday, January 11, 2025, marking a renewed focus on fiscal responsibility and efficient resource allocation within the Liberian government.
