Monrovia - President George Manneh Weah has taken what many see as his first austerity measure by instructing all ministries and agencies to restrict their spending to US$3,000 on operational costs. The Executive Mansion in a release, ordered with immediate effect all autonomous agencies and public corporations of the government to authorize and expend a cumulative amount of not more than US$3,000 for operational expenses. The President on January 22, inherited several daunting challenges, including fixing a sinking economy among others. Right after signing the 2017/18 National Budget, President Ellen Johnson Sirleaf called a special meeting with members of the Legislature, requesting them to revisit the budget due to government’s inability to raise the US$563.6 million budget. The former President and her advisers argued that the decline in global prices of the country’s major commodities was the source of Liberian liquidity crisis.

Source: Front Page Africa January 26, 2018 03:11 UTC