The previously approved budget was US$563.5 million. According to the summary from the Ministry of Finance and Development Planning (MFDP), the strategy of the adjusted recast budget is to protect essential items, such as compensation, drugs, food, among others. Similarly, there is a 55% cut to travels except for the Ministry of Foreign Affairs, the Legislature, Ministry of State and the Judiciary. “This situation has necessitated a revision of the original approved budget of US$563.5 million to realistically align expenditure with revised revenue projections,” President Weah wrote. The President said the approved revenue envelop for 2017/2018 was US$563.5 million (about 6.1% reduction) to the approved amount of US$600.2 million for 2016/2017 budget.

Source: Daily Observer March 09, 2018 02:26 UTC