(17-01-24) MOGADISHU (Halqabsi News) — Somalia’s Finance Minister, Bihi Iman Ige, presided over the launch of the government’s 2024 budget, with the event in Mogadishu being attended by parliamentarians, government officials, private sector leaders, banking executives, scholars, and representatives from various community sectors. Speakers at the event, including keynote speakers, highlighted the significant increase in the budget, surpassing one billion dollars, and the remarkable 25% rise in government revenue over the last year.
Deputy Governor of the Central Bank of Somalia, Dr Ali Yassin, attributed the financial advancements to the reform and cooperation among national financial institutions, with the Ministry of Finance playing a key role.
Inaugurating the budget, Minister Bihi, emphasised substantial progress, including the success in debt relief, budget expansion, and increased government revenue. He noted that the budget for 2024 stands at an impressive $1,079,000,000. Reflecting the government’s dedication to financial reform, this year’s budget shows a robust 13% increase, complemented by a 25% boost in revenue compared to the preceding year, 2023.
Halqabsi News
