Monrovia, Liberia – In a significant move towards enhancing Liberia’s economic stability, Finance and Development Planning Minister-designate Augustine Ngafuan has laid out his comprehensive plans to ensure sound fiscal management, curb waste, and combat fraud. Speaking at his confirmation hearing before the Senate Committee on Ways, Means, Finance, and Budget, Ngafuan emphasized the urgent need for robust and sustained actions to address the nation’s fiscal challenges.
Ngafuan, recently appointed by President Joseph Nyuma Boakai, described his return to the ministry as an “old soldier back to the battle front.” He acknowledged the immense challenges ahead but expressed his commitment to effective resource allocation and the implementation of a credible national development agenda.
Key Priorities Outlined
Ngafuan’s strategy focuses on several critical areas:
- Effective Resource Allocation: Ensuring that resources raised through domestic sources, grants, and loans are directed towards national priorities as identified in Liberia’s development agenda.
- Combating Waste and Fraud: Implementing stringent measures to prevent corruption and ensure transparency in fiscal management.
- Economic Growth: Addressing constraints to economic growth by unlocking the potential of the energy sector and improving infrastructure, particularly in power generation and road connectivity.
- Private Sector Efficiency: Leveraging the efficiency of the private sector in power distribution and enhancing the productivity of the Liberia Electricity Corporation (LEC).
Ngafuan stressed the importance of aligning the national budget with the new development agenda, which is set to be crafted and launched by November this year. He highlighted the need for a multi-stakeholder approach to tackle the complex challenges facing Liberia’s economy.
Call to Action
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