MONROVIA, Liberia — President Joseph Nyuma Boakai, Sr. has submitted the Draft National Budget for Fiscal Year 2026 to the Legislature, amounting to US$1.211 billion (one billion two hundred eleven million eighty-five thousand 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, during a brief ceremony at the Capitol Building in Monrovia.
According to the FY 2026 Draft Budget, domestic revenue constitutes the largest share, accounting for US$1.13 billion (94%), while external resources represent US$72 million (6%). The domestic revenue projections are further broken down as follows:
- Tax Revenue: US$726.97 million
- Non-Tax Revenue: US$83.92 million
- Mittal Sign-on Bonus: US$200 million
- Contingent Revenue: US$28 million
The draft spending plan reflects the Boakai administration’s commitment to fiscal discipline, economic revitalization, and strategic investments aligned with its ARREST Agenda—focusing on Agriculture, Roads, Rule of Law, Education, Sanitation, and Tourism.
Approximately US$280 million is earmarked for projects under the Public Sector Investment Plan (PSIP)—a key vehicle for infrastructure development, social service delivery, and job creation across the country.
In his Budget Message to the Legislature, President Boakai lauded lawmakers for their “cooperation and commitment” during the FY 2025 budget cycle, which he said enabled “a smoother and more transparent implementation of government programs.”
He further urged the National Legislature to ensure timely, transparent, and accountable scrutiny of the FY 2026 Budget, noting that early approval would allow ministries and agencies to implement projects efficiently and sustain the government’s reform momentum.
“This budget reflects our collective ambition to strengthen governance, boost domestic productivity, and improve the lives of our people. We must continue to manage public resources prudently and transparently to achieve lasting development,” President Boakai emphasized in his message.
The submission of the Draft 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 national budget be submitted to the Legislature within the statutory timeframe.
Minister Ngafuan, speaking after the submission, reaffirmed the administration’s commitment to fiscal realism and accountability. He disclosed that the 2026 Budget seeks to expand revenue sources, improve efficiency in public spending, and enhance service delivery, particularly in health, education, and rural infrastructure.
Meanwhile, the Ministry of Finance and Development Planning has announced a special press briefing at the Ministry of Information, Cultural Affairs and Tourism (MICAT) on Monday, November 10, 2025, at 12:00 noon, where Minister Ngafuan will present a detailed breakdown of the draft budget, its priorities, and key policy targets.
This year’s budget submission marks another major step in President Boakai’s pledge to rebuild public trust, strengthen institutional accountability, and ensure that Liberia’s fiscal policy directly supports the government’s development goals and the well-being of its citizens.
