SOMALIA: Federal cabinet approves over one billion dollar budget for the 2024 fiscal year

Published: October 29, 2023

The Council of Ministers of the Federal Republic of Somalia, which held an extraordinary meeting last night, approved the government budget for the fiscal year 2024 in the amount of $1,025,687,991 (One billion and twenty-five million dollars.)

The government’s budget this year has reached more than one billion dollars, which has come from the domestic revenue that has increased by more than 20%, and it focuses on national security and the development of social services.

Prime Minister Hamsa Abdi Barre, who chaired the meeting, said that this budget reflects the needs and circumstances of the country, ” When the country’s debt is forgiven at the end of this year, it will increase, to improve the services provided by the government “, he added.

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