revenues earned by the liberian government from mining activities in liberia for fiscal year

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Liberia The Public Financial Management Reform Support Annual Economic Review State

2 For funds to be effectively used this fiscal year disbursement has to occur by the first week of June 131 In the Liberian government cleared arrears with multilateral institutions including the Bank successfully negotiated a Poverty Reduction and Growth Facility activities when Liberia is beginning the transition from In continuation of its expansionary fiscal policy the Government of Liberia GoL in made The growth in was driven largely by increased activities in the mining sector and this is expected to continue in the medium term particularly with the government revenues on mining specific tax lines excluding income taxes

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Liberia ASM Minerals Yearbook USGS

Despite the many challenges faced by the sector it is a substantial GDP contributor during the / fiscal year extractive industries contributed to 58 of the Liberian GDP Gold mining in Liberia reportedly began at the turn of the 19th Century with the first significant rush taking place in in Grand Cape Mount County Minerals Yearbook US Department of the Interior US Geological Survey diamond and gold Despite the moderate resumption of mining activities Liberia continued to make significant progress in the rehabilitation of the mining sector by opening up the sector 385 was granted a 25 year mining license to develop the Putu iron

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IMF Country Report No 14/299 LIBERIACollateralizing Liberia Delegation to Turkey Seeks

Fiscal Operations of the Central Government 15 Millions of US dollars 12 Sources Liberian authorities and IMF staff estimat Text Table 1 Central Government Ebola Impact significant fiscal impact Text Table 1 Revenue collections are estimated to decline by someThe company which commenced operations in in Liberia with a capacity of 650 000 tonnes per year is one of several concessionaires reportedly being approached by the George Weah led government for advances on taxes in a bid to bolster the ailing economy

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Liberia US Department of State Home PageGOVERNMENT OF LIBERIA Ministry of Finance Liberia

LEITI launched its fifth Report in June covering the amounts paid amounts due revenue tracking and in kind contributions by companies during Liberia’s fiscal year 12 Note Fiscal year begins July 1 and ends June 30 the following yearthe end of the quarter” Government of Liberia Public Financial Management Act “Fiscal data should be reported on a gross basis distinguishing between revenue expenditure and financing with expenditure classified by economic functional and

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REPUBLIC OF LIBERIA mfdpgovlrCollateralizing Liberia Delegation to Turkey Seeks

later than 2 months before the start of the fiscal year which is April 30th This year the preparation Given the constrained fiscal space the Government of Liberia would be unable fund all its programs the budget and reports produced on the government’s financial activities in line with international best practic To ensure full A report by the Sustainable Development Institute concluded that in addition to the reduction in revenue generated from corporate income tax the actual agreements the Government of Liberia has negotiated with mining companies in recent years place the country in a poor position to maximize the value of iron ore mining

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FOR OFFICIAL USE ONLY World Bank Year in Review Business and Economy—Part II

but declined to US$48 million in due to reduced mining activiti Nevertheless Liberia achieved a trade surplus of US$110 million in US$63 million The AfT is the government of Liberia’s five development programs that seeks to improve the provision of basic social services and infrastructural development It is a subset of government’s Vision agenda recorded 81 percent estimated growth for fiscal year attributing it largely to increased activities in the mining sector

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Background Briefing on Liberia’s Oil Sector NOCALLiberia Growth Without Jobs Minister Addresses

Background Briefing on Liberia’s Oil Sector July to ensure the maximum Liberian ‘Government take’ from production sharing • The outline principles that will guide Liberia’s revenue management in the future including how NOCAL should be financedMinister Konneh said that the mining sector is one of the growing sources of export earnings and government revenue in the economy with the contribution from iron ore growing rapidly

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Liberia US Department of State Home PageUnfair mining agreements depriving Africa of enough

LEITI launched its fifth Report in June covering the amounts paid amounts due revenue tracking and in kind contributions by companies during Liberia’s fiscal year 12 Note Fiscal year begins July 1 and ends June 30 the following yearThe Ghana Chamber of Mines also indicated that the government’s proposal to increase taxes in the mining sector in the fiscal year will lead to low investments in the sector According to the Chamber however Ghana’s economy has received an investment of $10

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PROMOTING PRIVATE SECTOR DEVELOPMENT AND GOVERNMENT OF LIBERIA Amazon S3

This presents two key challenges to the Government of Liberia in promoting private sector accounted for roughly 13 of GDP in the /10 Fiscal Year3 While revenue from the Extractive Industry sector has been the major source of finance for the country’s of natural resource contracts — the New Minerals and Mining Law the Liberian Liberia Public Financial Management Act “Fiscal data should be reported on a gross basis distinguishing between revenue expenditure and financing with expenditure classified by economic functional and administrative category” IMF Code of

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As Amended IFRCorgGOVERNMENT OF LIBERIA ANNUAL ECONOMIC REVIEW

Liberia Revenue Code as Amended 1 Department of Revenue Ministry of Finance July 13 LRC Codification JB includes CTA Act Tax as a Debt Due to Government of Liberia Section 13 Bad Tax Debts Special Investment Incentives Section 17 Stability of Fiscal Regime for Mining Petroleum and Renewable Resources Section 18 annual economic review ministry of finance development planning april government of liberia

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Liberia’s / Outrageous Recurrent ExpendituresPresident Sirleaf Addresses the Fourth Radio Veritas

However between the battle for more money from the Executive and the Legislature branches President Sirleaf October 1 President signed into law the National Budget for the fiscal year “Original revenue was revised downward by US$86 million from US$559 million to US$473 million while expenditure demand increased by US$152 million ” she noted citing the introduction of tight fiscal measures with expenditure cuts in discretionary activities thereby reducing the fiscal

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