OK FM understands that the one month extension period requested for by President George Weah to submit the 2019-2020 draft fiscal budget has elapsed; yet, the budget has not been submitted to the National legislature.
April 30, 2019, is the period required by law for the Executive to submit the draft budget to the National Legislature for deliberations and subsequent passage by that body.
But due to unforeseen challenges, the Executive implored the Legislature for a month extension given fiscal managers’ ample time to do just to the draft budget.
It can be recalled on April 30, 2019, Finance and Development Planning Minister, Samuel Tweh told legislative reporters on Capitol Hill, that president George Weah wrote the Legislature, seeking an extension in the submission of the 2019/2020 National Budget for additional one month.
Minister Tweh told reporters following an Executive sitting with lawmakers on Capitol Hill that the president’s letter was intended to allow the Executive ample time to gather the necessary numbers and other instruments that are crucial for the preparation of the draft National budget.
He made the disclosure during a press briefing at the Ministry of Information, Culture and Tourism.
Our budget process has been such a way that the revenue that we collect and the expenditure we do every budget year are misaligned.
In other words, our spending is a little bit higher than what our true revenue potential is and that could lead deficit financing, borrowing. So, we are working to bring down that expenditure in line with what the true revenue potential is.
Ok FM legislative reporter covering the lower house said, it has been more than forty-five days counting since President Weah’s request was accepted by the Legislature.
It’s however unclear when the 2019/2020 National Budget will be presented as it’s already beyond the statutory period of April 30 deadline and the one month extension requested for by the chief executive.
