Investigative Reports

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Cabinet Meeting Chaired by President Bihi Approves Somaliland Budget for 2024

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During their 122nd meeting on Wednesday, the Council of Somaliland Ministers approved the 2024 Annual Budget, placing a strong emphasis on the nation’s elections and defense. President Bihi presided over the meeting.

The Somaliland Ministry of Finance Development has published the country’s yearly budget for 2024, which comes with a total of 3,432,316,337,448 Somaliland shillings in shillings.

It consists of World Bank projects, independent institutions, local and provincial government budgets, and the central government budget.

Dr. Saad Ali Shire, Minister of Finance Development, carried out his obligations as specified in Article 55, Paragraph 1 of the Nation’s Constitution and Article 5 of the Financial Management Act No. 75/2016 by presenting the budget estimate to the council.

He outlined the main topics and anticipated revenue sources for the national budget for 2024. President Muse Bihi Abdi cast his vote in favor of approving the year’s budget estimate following a protracted debate and review by the ministries.

This budget, which will be delivered to the Somaliland House of Representatives for its constitutional obligations, is the 33rd budget since Somaliland declared its unilateral dissolution of the union with the Somali Republic thus resuming its sovereignty in 1991.

The following ideas serve as the foundation and focal points of the 2024 budget: rebuilding the nation’s defense and security infrastructure, providing the cost of election, refining revenue and expenses, controlling inflation, and promoting judicial service

Piece first published on SII

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