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Finance Minister on Liberia’s fiscal status |
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Written by Horatio Bobby Willie
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Thursday, 02 July 2009 |
Finance Minister Augustine Ngarfuan says Liberia is in a tight financial situation.
Minister Ngarfuan said the country’s policy of cash based balanced budget was limiting expectations for spending in key sectors.
According to the Finance Minister, Liberia has revised expectations in terms of Gross Domestic Products and export growth.
Minister Ngarfuan said while other countries have the abilities to borrow, Liberia is constrained to cut back during this period of the global economic slowdown.
Minister Ngarfuan said this was hindering development and key poverty reduction deliverables.
The Liberian Finance Minister called on partners to begin providing direct budgetary support to help Liberia address its development demands.
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