Somalia: Somali Parliament Approves $218 million Budget

Published: May 8, 2014

Somalia: Somali Parliament Approve $218 million BudgetSomalia’s Federal Parliament has approved the country’s 2014/2015 budget after weeks of debate.

The budget was passed during a plenary session in Parliament with 162 lawmakers voting in favour and 7 voicing their disapproval. More than 80 members were absent as the oral vote was being taken per MP.

The government had accommodated MPs’ views to amend some of their projected taxes.

The sum, which is more than twice the nation’s budget for the past fiscal year (about $114 million) is expected enable the government improve security, healthcare delivery, infrastructure and economic development.

Officials from the Ministry of Finance said that the budget will mainly be based on income and expected to derive from local sources of funds like collection of tax.

Horseed Media

Leave a comment

Your email address will not be published. Required fields are marked *