Monrovia, Liberia -The Ministry of Finance and Development Planning (MFDP) has officially commenced the Executive Budget Hearings for the Fiscal Year 2026, engaging ministries, agencies, and commissions (MACs) as part of the national budget formulation process.
The law mandates that the Budget Policy and Coordination Committee consult with spending entities on their programs, commitments, and justifications for proposed budgets for the upcoming fiscal year.
The opening session featured presentations from seven key government institutions: the Ministry of Agriculture, Liberia Agriculture Commodity Regulatory Authority, Cooperative Development Agency, Center Agricultural Research Institute. Ministry of Commerce and Industry, Ministry of Labour and National Investment Commission.
In his opening remarks, Minister of Finance and Development Planning, Hon. Augustine Kpehe Ngafuan underscored the significance of the hearings and the Ministry’s legal responsibility to submit the national budget on time.
“By law, we are required by the PFM Act to submit the national budget no later than October 31 for the ensuing fiscal year,” he stated, noting that the hearings are crucial for collecting inputs, addressing queries, and gathering evidence to inform national priorities.
Minister Ngafuan emphasized that budget allocations are not made arbitrarily.
“There is a thorough and consultative allocation process in place. We listen to the institutions—our budget spenders—to determine the most effective and efficient way to allocate resources,” he explained, adding that the Ministry aims to achieve both allocation efficiency and effectiveness.
He further noted that the Arrest Agenda for Inclusive Development (AAID), the government’s five-year development framework, plays a central role in the budget formulation process. The AAID outlines specific targets to enhance public sector performance and service delivery across key sectors.
Looking ahead to FY2026, Minister Ngafuan stated that the proposed national budget is expected to increase from the previous year’s figure of $738 million. However, he acknowledged that the proposals submitted by spending entities are ambitious and must be reconciled with available fiscal space.
“We expect significant growth compared to last year’s budget of $738 million,” he said, highlighting ongoing collaboration with the Liberia Revenue Authority (LRA) and other stakeholders to boost revenue and resource mobilization.
Minister Ngafuan also praised the Ministry of Agriculture for developing a comprehensive National Agricultural Development Plan ahead of the AAID launch, stating that such proactive planning will help align sectoral priorities with the country’s broader development agenda.
He encouraged all institutions to be bold in articulating their needs, noting, “We are not discouraged by large proposals, even though resource scarcity is an ever-present constraint.”
Assistant Minister for Budget and Development Planning, Hon. Sarah McGill Mulbah earlier stated that the hearings are being conducted in line with the Public Financial Management (PFM) Law.