IPNEWS: — President Joseph Nyuma Boakai, Sr., today submitted the Draft National Budget for Fiscal Year 2026 to the National Legislature, amounting to US$1,211,085,220 (one billion two hundred eleven million eighty-five thousand and two hundred and twenty United States dollars).
The Budget was formally presented to House Speaker Richard Nagbe Koon by Finance and Development Planning Minister Augustine Kpehe Ngafuan on behalf of President Boakai.
According to the draft FY 2026 Budget, domestic revenue accounts for US$1.13 billion (94%), while external resources represent US$72 million (6%). Domestic revenue projections include Tax Revenue of US$726.97 million, Non-Tax Revenue of US$83.92 million, Mittal Sign-on Bonus of US$200 million, and Contingent Revenue of US$28 million.
The proposed Budget prioritizes investments which align with the ARREST Agenda. It allocates approximately US$280 million to projects under the Public Sector Investment Plan (PSIP)—a key pillar of the Administration’s development framework focused on Agriculture, Roads, Rule of Law, Education, Sanitation, and Tourism.
In his Budget Message to the Legislature, President Boakai commended lawmakers for the timely passage of the FY 2025 National Budget, which facilitated a more effective and transparent implementation of government programs during the current fiscal year.
The President urged the National Legislature to ensure a timely and transparent review and approval of the FY 2026 Draft Budget, emphasizing the importance of maintaining legislative due diligence and accountability in the process.
The submission of the Draft National Budget fulfills the requirement of Section 1.7.1 of the 2019 Amendment and Restatement of the Public Financial Management (PFM) Act of 2009, which mandates that the proposed budget be submitted to the Legislature within the statutory period.
Meanwhile, Finance and Development Planning Minister Ngafuan will hold a special press briefing at the Ministry of Information, Cultural Affairs and Tourism (MICAT) on Monday, November 10, 2025, at 12:00 noon, to provide detailed insights into the draft budget and its key priorities.
