President Joseph Nyuma Boakai, Sr., led a two-day Cabinet retreat in Monrovia from October 9-10, 2024. The event aimed to address Liberia's economic challenges and set strategic priorities for the fiscal year 2025. Key government officials participated in discussions centered on budget alignment with growth objectives and fostering inclusive development.
President Boakai highlighted the need for teamwork and shared responsibility to navigate economic difficulties while establishing a foundation for sustained growth. Several resolutions were adopted during the retreat to guide government actions in the upcoming fiscal year.
The Cabinet emphasized prudent fiscal management, urging ministries and agencies to prioritize essential commitments to maintain financial stability. Compliance with National Road Fund laws was reinforced to support infrastructure projects. The "ARREST Agenda for Inclusive Development" (AAID) was endorsed as a framework for equitable growth, set to launch by November 2024.
Efforts will be made to diversify funding sources and enhance revenue generation through tax reforms and public-private partnerships. Program budgeting will be enforced across government sectors to ensure accountability and efficiency in resource use.
A revised Domestic Travel Ordinance aims to promote government decentralization by encouraging officials' engagement with local communities. Additionally, the Foreign Travel Ordinance was updated to reduce unnecessary expenses.
A Special Presidential Committee on Public Sector Remuneration Reform will review board fees, aiming for efficient resource use. Incentives were approved for private sector development alongside new VAT regulations.
The General Services Agency (GSA) and Ministry of Finance and Development Planning (MFDP) will review fleet management policies, targeting cost reduction and improved efficiency. Consultancy hiring guidelines will be updated for FY2025, ensuring transparency in engagements.
Finally, significant national policies must receive Cabinet clearance before implementation by respective entities. These measures aim at promoting national stability, inclusive development, and long-term economic growth under President Boakai's leadership.
Alerts Sign-up