US unveils Somalia’s budget transparency report
WASHINGTON, United States – The United States unveiled the Somalia Budget Transparency Report for 2021, which is typically a government-to-government audit of projects, giving a clear picture of how resources, especially donor funds, are being used .
During the reporting period, the US government released its enacted budget and year-end report online within a reasonable timeframe. Information on foreign debt obligations has been published on the website of the Department of Finance, the United States said in a statement.
The budget documents during the period under review have been completed, giving Washington time to easily assess the spending of the Somali government which relies heavily on the West for its financial support.
“Some ministries may maintain off-budget accounts that are not subject to audit or oversight,” Washington noted. “Actual income and expenditure may have deviated from projections, but the government has issued a revised supplementary budget, although periodic budget execution reports have been delayed.”
“The Supreme Audit Institution has produced a publicly available review of government accounts. The Supreme Audit Institution does not meet international standards of independence,” he said.
The government has partially specified in law the procedures for awarding natural resource concessions, but there is not enough information available to determine whether or not they have been followed in practice.
Basic information on rewards for natural resource extraction was not publicly available. Somalia’s tax transparency would be improved.
As part of the improvement, the United States said Somalia should begin eliminating off-budget accounts or subjecting them to adequate oversight and audit and ensuring the Supreme Audit Institution is complying with international standards of independence.
In addition, he noted, the Mogadishu administration should fully specify in law the procedures for awarding natural resource concessions and awarding natural resource extraction contracts and licenses in a consistent manner. with law or regulation; and make the basic information about all of these awards public.
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