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Thursday, May 30, 2024

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    The Somali cabinet has approved a budget of more than one billion dollars for the fiscal year 2024.

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    Following an emergency meeting in Mogadishu on Saturday night, Somali cabinet ministers agreed a budget of over one billion dollars for the fiscal year 2024.

    The national budget will be funded with domestic revenue and international grants totaling $1,025,687,991 (one billion and twenty-five million dollars). According to the Council, domestic revenue has increased by more than 20%, with a particular emphasis on improving national security and social service development.

    The meeting was presided over by Prime Minister Hamsa Abdi Barre, who highlighted that the budget is in line with the country’s requirements and conditions. He expressed hope that because the country’s debt is expected to be forgiven by the end of the year, the budget will be increased further, allowing the government to improve its services to the Somali population.

    Last year, the parliament enacted a budget of $973,985,805, which includes increased funding for public welfare institutions around the country, such as government healthcare services, education, and security organizations.

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