Monrovia, Liberia - The Ministry of Finance & Development Planning assures Liberians and our development partners that every measure is being taken to maintain macroeconomic stability, and ensure effective management of the economy during this difficult period as our country experiences the crippling socioeconomic impact of the Ebola Virus Disease (EVD).
For the first half of the fiscal year ended 31 December 2014, the Government generated approximately US$298 million in revenue. Of this amount, US$209 million was generated from domestic sources (tax and non-tax revenues), while US$89 million came from external sources (Grants & Borrowing), as a result extensive negotiations with multilateral and bilateral partners.
Even though the economy was severely challenged as a result of the Ebola Virus Disease, during the period under review, the Government was able to spend more than US$35 million on healthcare services, including US$9 million on Ebola Response and US$6 million for the restoration of basic health care services across the country.
In order to ensure that the operations of Government continued unimpeded, US$106 million was expended on salaries and compensation related items, making up regular salary payments to active civil servants and non-essential staffs who were requested to stay home due to the crisis.
In line with Governmentâ€™s decision to minimize the livelihood impact of the Ebola crisis, non-essential staff and all civil servants continue to receive their income to purchase basic food and other supplies.
The MFDP wishes to further report that in addition to incurring expenses on healthcare, other critical sectors still received support: Security (US$35 million); Education (US$28 million); Energy (US$6 million); Infrastructure (US$27.7 million), Special Senatorial elections (US$9.5 million), among others.
As part of measures to accelerate economic recovery, the MFDP has provided special support for Agricultural investment (US$2 million) and Private Sector Development (US$1 million). These programs have already been established and are fully funded.
To prepare Liberians for life in a post-Ebola era, the Government has directed its focus on the re-opening of schools across the country. Toward this end, the MFDP has already established a US$1 million fund to assist the sector in getting ready for operations.
With commencement of the second half of the fiscal year, and entry into the New Year, the MFDP looks forward to working with key institutions like the Liberia Revenue Authority (LRA), the Central Bank of Liberia (CBL) and the Ministry of Foreign Affairs, among others.
Through this partnership, we hope to intensify our revenue generation and fund raising efforts in ensuring that the required resources are available to fund the rebuilding of key social services infrastructures and our overall development agenda.
Critical areas of interest for the President and Government are: rebuilding the health system, reopening of schools, rehabilitation of the hydro and ramping up our electricity supply, continuing the construction of more roads across the country, rehabilitation of the airport and investing in agriculture.
Government also sees the domestic private sector as a key player in its development agenda, and as such, our private sector investment goal is to ensure that more Liberians have access to finance and participate in the nationâ€™s economic recovery program.
The Ministry counts on all Liberians and our partners for their support and cooperation in meeting these targets during this very challenging period in our countryâ€™s history.