We are Resolved to collect more Revenue
Domestic Resource Mobilization (DRM) in developing countries involves increasing public and private savings to finance social expenditure in education and health and investment in critical infrastructure to achieve inclusive growth and poverty reduction.
“Domestic resources are the largest untapped source of financing to fund national development plans” , while developing countries that have achieved and sustained high growth rates have typically done so through the mobilization of domestic resources .
For national development and budget financing, Liberia is currently confronted with stagnating growth in revenues and domestic debt, declining grants and donor transfers, rising external public debt and volatile net remittance flows. The overarching challenge of the DRM is therefore, to close the financing gap left by a declining Official development assistance (ODA)and slow down the rate of growth of the foreign loans to keep debt sustainable.
