Author name: pytq0

SUMMARY On December 9, 2023, Somalia’s 2024 annual budget was approved in a joint session of parliament following a brief review and adjustment process of the proposed budget by the Cabinet in late October. The total approved budget amounts to USD 1,079,315,783 billion and comprises of USD 569.66 million in recurrent costs and USD 509.65 …

Somalia’s 2024 billion dollar budget in picture: A decline in social spending Read More »

The Federal Parliament of Somalia approved a revised 2023 supplemental budget in a joint session in July 2023. The Federal Government of Somalia’s (FGS) revised budget for 2023 saw slight decline in foreign grants, creating new supplementary budget totaling $917 million, of which $456.88 million is recurrent expenditure (against original estimation of $480.4 million) and …

Analysis of Somalia’s revised 2023 budget: A decline in foreign grants Read More »

The Federal Parliament of Somalia endorsed the 2023 annual budget in a joint session on December 28, 2022. The Federal Government of Somalia’s (FGS) annual budget for 2023 has made slight increase from 2022 spending plans of $929.9 million to $977.2 million in 2023. Hence, 283.3 million (30%) of the entire revenues will be mobilized …

A review of Somalia’s 2023 annual budget: Continued dependency on external support Read More »