Somali cabinet approves a nearly billion-dollar budget for 2023

Wednesday November 16, 2022

Mogadishu (AX) – Somali cabinet ministers has approved a nearly 1 billion budget for the financial year 2023 following a meeting chaired by Prime Minister Hamza Abdi Barre in Mogadishu on Tuesday.

The $967.7 million national budget was made up of domestic revenue and grants, with domestic revenue expected to be $283.3 million in 2023, an increase of $36.3 million from this year’s $247 million.

Minister of Finance, Dr. Elmi Mohamud Noor, thanked the council for approving the budget, which will now be summited to the parliament for approval in a joint session of the Lower and Upper Houses.

During the meeting, the cabinet ministers also approved the defence agreements between the governments of Somalia and Uganda and Somalia and Sudan regarding defence cooperation.

The cabinet did not elaborate on the agreements; however, the Ministry of Defence emphasized that the pacts would improve the rebuilding of the Somali National Army.

Speaking at the opening of Somalia’s second session of parliament Tuesday, President Mohamud said while addressing the parliament on Tuesday that the backbone of the government’s policy would welcome everyone willing to support Somali in matters of priority while balancing Somali interests in the world.

“Somalia at the moment needs a friend more than it needs an enemy, he added.

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