Liberia: Ngafuan Says U.S.$1 Billion Tax Haul Spent, Braces for U.S.$200m Gap
[Liberian Investigator] MONROVIA -- Finance Minister Augustine Kpehe Ngafuan says Liberia's record $1 billion in tax collections this year is already spent, not sitting in a government account, funding new soldiers, early salary payments and long-overdue debts to local banks and media houses. But about $200 million of that total, roughly a fifth, came from a one-time mining payment that will not…
Finance Minister Augustine Kpehe Ngafuan of Liberia disclosed that the country's record $1 billion in tax collections for the year have already been spent, leaving a projected $200 million gap. This is because roughly a fifth of the funds, about $200 million, came from a one-time mining payment that will not be repeated in 2027.
Ngafuan made these remarks on OK Morning Rush, a day after President Joseph Boakai announced the tax haul in a national address. He emphasized that the government's current bank balance is only a fraction of the annual collections, likely no more than $50 million. The minister cited specific uses of the funds, including the recruitment of 600 soldiers, the construction of a diagnostic testing center, timely salary payments, clearing of media debts, and road paving projects.
He noted that the $1 billion figure represents domestic revenue collected from January to September 14, which was above projections and led to a $200 million gap for the next budget year.
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