- Search Results
Senator Nyenabo Shortfall ĎOver-Ambitiousí
Date Uploaded: May 08, 2014

Grand Gedeh County Senator,  Isaac Nyenabo



Senator Nyenabo Shortfall ‘Over-Ambitious’

By Winnie S.T. Dixon

MONROVIA, May 8 (LINA) - Grand Gedeh County Senator Isaac Nyenabo has blamed the continued budget shortfall on “overly ambitious presentation” by authorities of the Finance Ministry.

He said revenue generating entities bills, which are functions of the Legislature according to article 34 of the Liberian Constitution, have been carried out by authorities at the Ministry of Finance, something he said is not only wrong, but also a total disregard of the constitution of Liberia.

Article 34 (d) (i) of the Liberian Constitution requires revenue bills to generate in the House.

In an Interview with the Liberia News Agency (LINA) Thursday, he named the Liberia Maritime Authority, Liberia Petroleum Refining Company and the National Port Authority as some of the revenue generating entities.

Senator Nyenabo specifically cited among those entities, the Bureau of Maritime that contributed US$19 million to the budget, instead of its US$22.5 million contributions, leading to a shortfall of US$ 3.5 million.

The Grand Gedeh Lawmaker also reminded citizens that Liberia is an inherently dependent economy, where 90 percent of its goods and services are imported.

As a result of this, he said, a decline at the international level would affect Liberia’s budget immensely, if proper consultations are not carried out.

Meanwhile, the Grand Gedeh lawmaker has frowned on the depreciation of the Liberian dollar to the United States dollar on the foreign exchange market.

Senator Nyenabo said the situation can be attributed to the increased supply of Liberian dollars on the market and the high demand for the United States dollars by businesses and individuals.

In an interview with the Liberia News Agency (LINA) on Thursday, the Senator, who serves as Chairman on Banking and Currency, said as a result of the condition, the Central Bank Governor, Dr. Mills Jones, is expected to appear before the committee at a public hearing Monday at the Joint Chambers of the National Legislature to discuss the problem.

Last January, Finance Minister Amara Konneh and Central Bank of Liberia Governor, Dr. Mills Jones, appeared before the committee to present a holistic picture of the economy.


latest headlines
Liberia’s Postal Administration Owes US$6.4m - Report
The debt burden of Liberia’s postal administration stands at US$ 6,491,631.73 million, the Ministry of Posts and Telecommunications (MoPT) has ...more
ECOWAS Launches Program To Combat Fistula In Sub-region
The Commissioner for Social Affairs and Gender of the ECOWAS Gender Development Center (EGDC) has launched an ambitious program to combat obstetr ...more
‚ÄėLiberia-Cameroon Ties At New Height‚Äô - Shoniyin
Deputy Foreign Minister B. Elias Shoniyin says since the establishment of diplomatic relations between Liberia and Cameroon in the 1960s, ties be ...more
ECOWAS Prexy Urges Member States To Ensure Wellbeing Of Citizens
The President of the ECOWAS Commission, Marcel Alain de Souza, has challenged ECOWAS members states to redouble their efforts towards the enhance ...more
AFC Pledges Support To ECOWAS Commission
The Chairman of the Twenty- First Meeting of the Administration and Finance Committee (AFC) of ECOWAS, Mr. Benedict Roberts, has pledged the Comm ...more
FM Kamara Opines 54th Anniversary Of Africa Day ‚ÄėImportant Milestone‚Äô
Foreign Minister Marjon Kamara has said the observance of the 54th anniversary of ‚ÄúAfrica Day‚ÄĚ was an ‚Äúimportant milestone‚ÄĚ which the con ...more
All rights reserved © 2013 - 2014
Liberia News Agency