Monrovia, Liberia – The Government says the 2019/2020 budget has been recast from Five Hundred and Twenty Six to Five Hundred and Five Million United States Dollars.
Government said the decision is aimed at mitigating the impact of the coronavirus on the Country Growth Domestic Product (GDP).
Finance Minister Samuel Tweah told ELBC Friday that the Government is working with its International Partners to minimize the impact of Covid-19 on the economy.
Minister Tweah said a recent projection on the revenue impact from the health crisis in Liberia is put at around two percent or more than Sixty Million US Dollars.
The Liberian Finance Minister said to avoid such loses on the GDP of the Country, the Government is working to ensure salaries are current while consultations are being held to open the economy.
Minister Samuel Tweah disclosed that the Government is closed to securing funds through the Rapid Credit Facility (RDF) of the International Monetary Fund to support the budget.