— Host THREE Days Workshop for Effective Execution of FY2025 National Budget
IPNEWS: former Africa DEVELOPMENT Bank Executive and now Liberia’s FINANCE AND development Minister Austine Kpepeh Ngafuan, has begun revolutionizing Liberia’s budget formulation process and execution with a standardized pattern.
Speaking at the commencement of a three days workshop amid at redesigning the stand and pattern of budget formulation and standards, The Ministry of Finance and Development Planning (MFDP) Minister Nagfuan stated that the three-day workshop is aimed at enhancing the execution of the Fiscal Year 2025 National Budget taking into consideration key elements of the budget formulation process and execution.
The ongoing workshop taking place at the Ellen Johnson Sirleaf Ministerial Complex, seeks to equip policymakers and technical staff with the tools and knowledge required for efficient and responsible budget management.
Looking at the core Objectives of the Workshop, the MFDP states that the MFDP, the workshop aims to Ensure that the FY2025 budget is executed in alignment with the approved National Budget.
• Deepen understanding of fiscal rules, policies, and procedures for budget execution, monitoring, and reporting.
• Strengthen the capacity of spending entities to deliver timely financial and performance reports.
• Foster better coordination between ministries to promote the efficient and accountable use of public funds.
By achieving these objectives, the workshop intends to address key challenges in budget execution and ensure public funds are used effectively to support the government’s development goals.
Structure and Participation
A total of 596 participants, including representatives from 108 spending entities, will attend the workshop. The schedule is as follows:
• Day 1 and Day 2: General sessions for all participants, focusing on fiscal rules and budget execution procedures.
• Day 3: Targeted sessions for spending entities responsible for implementing development projects.
The workshop will provide participants with practical tools to improve budget execution and performance monitoring, ensuring that Liberia’s fiscal management aligns with national priorities and international best practices.
Significance of the Initiative
This initiative reflects the government’s commitment to fiscal discipline, transparency, and accountability. By empowering spending entities with enhanced capacity, the workshop supports Liberia’s broader development agenda while ensuring citizens benefit from effective public fund management.
The MFDP’s focus on inter-ministerial collaboration and responsible reporting underscores its dedication to addressing systemic challenges in budget execution and building a foundation for sustainable economic growth.
The MFDP’s focus on inter-ministerial collaboration and responsible reporting underscores its dedication to addressing systemic challenges in budget execution and building a foundation for sustainable economic growth.
