Monrovia — The Ministry of Finance and Development Planning (MFDP) has said the Government of Liberia (GoL) generated approximately US$298 million in revenue for the first half of the fiscal year ended 31 December 2014.
According to a MFDP press release, out 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 of extensive negotiations with multilateral and bilateral partners.
The MFDP press release also indicated that during the same fiscal period, the GOL spent 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 spite of the stern hit the Ebola Virus Disease is having on the Liberian economy.
Recent statistics from the Central Bank of Liberia(CBL) shows that the Liberian Economy is suffering from serious decline with a GDP of 1%.
In order to ensure that the operations of government continues unimpeded, including regular salary payments to active civil servants and non-essential staffs who were requested to stay home due to the crisis, US$106 million was expended on salaries and compensation related items.
It was a decision of the president and the government that in order 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 further reported that in addition to expenses on healthcare, other critical sectors still received support: Security (US$35million); education (US$28 million); energy (US$6 million); infrastructure (US $27.7 million), senatorial election (US $9.5 million) among others.
As part of measures to accelerate economic recovery, the press release disclosed that the MFDP has provided special support for Agricultural investment (US $2 million) and Private Sector development (US$1 million).
These programs, the press release mentioned, have already been established and fully funded.
Additionally, as the country prepares 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.
As the second half of the fiscal year begins and also entering the New Year_2015, the MFDP is looking forward to working with key institutions like the Liberia Revenue Authority (LRA), the Central Bank of Liberia (CBL) and the Ministry of Foreign Affairs.
Through this partnership, it is expected that revenue generation will be intensified as well as fund raising
efforts in ensuring that the required resources are available to fund the rebuilding of key social services infrastructures and the Liberian Government's overall development agenda.
The press release furthered that critical areas of interest for President Ellen Johnson-Sirleaf and the entire Government are rebuilding the health system, reopening of schools, rehabilitation of the hydro, which was halted due to the Ebola outbreak, and the bringing additional electricity on line, continuing the construction of more roads across the country, rehabilitation of the airport and investing in agriculture and the domestic private sector.
"Our private sector investment goal is to ensure that more Liberians have access to finance and participate in the nation's economic recovery program," the press release said.
The MFDP again stressed in the press release that all is being done to ensure microeconomic stability, the provision of basic social services, and key infrastructure development projects including power, ports and roads remain on track.
The Ministry added that it therefore counts on all Liberians and partners for their support and cooperation in meeting these targets during this very challenging period in the country's history.
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