Budget Preparation, Execution and Monitoring

The National Budget is one of the most important policy documents produced by the Government of Liberia. Through the budget, the Executive Branch of Government articulates broad policy priorities for legislative approval.

Within the budget framework, the government allocates financial resources targeting key development priorities of the country.

The Ministry of Finance and Development Planning oversees the budget preparation, execution and reporting processes, in close collaboration with the National Legislature. The national budget and related processes are governed by the Public Financial Management Act of 2009, under the stewardship of the Ministry. The budget process is hence, a critical component of the Ministry of Finance and Development Planning core activities.

Within the Ministry of Finance and Development Planning, the Department of Budget and Development Planning is the lead entity that prepares the budget framework, with implementation and monitoring oversight. The Department also provides overall guidance and support to various spending entities executing the budget.

The MFDP works to ensure on the whole that the budget remains a key policy tool to implement Government economic and development priorities. This includes advising the government on the fiscal policy; setting the overall budget reform policies and issuing guidelines for their implementation; undertaking activities on budget formulation and preparation; implementation and reporting of the Budget, as well as conducting financial analysis on legislation affecting the National Budget of Liberia.

The Department is also tasked with institutional and individual capacity building within the budgetary units of the Ministries and Agencies, and within the Department itself, to ensure efficient and effective implementation of public finance management reforms over the longer-term.

As the budget is a key public resource, the MFDP through the Budget Department has established the Open Budget Initiative to provide the public up-to-date information on the budget preparation, execution and reporting phases.
See for more information on the OBI….https://sites.google.com/a/mopea.gov.lr/mtef-budget/home

Powered by Phoca Download