Somali Parliament Grants Approval for $1.36 Billion Budget for the 2025 Fiscal Year
Mogadishu (AX) — The bicameral legislature of Somalia has greenlit a substantial budget of $1.36 billion for the fiscal year 2025, reflecting a robust increase of 24.4% over the previous year.
This decision came during a parliamentary session held on Monday in the capital, Mogadishu. In attendance were 143 Members of Parliament and 32 senators. The First Deputy Speaker of the People’s Assembly, Saadiya Yasin Haji Samatar, confirmed that an overwhelming majority of 172 lawmakers backed the budget, with only two MPs voting against it and one choosing to abstain.
With a total of $1,359,714,328, the new budget is largely anchored in optimistic internal revenue forecasts. This figure signifies a growth of $263 million compared to the $1.08 billion budgeted for 2024.
When lined up against the financial plans of other East African Community (EAC) nations for 2025, Somalia’s budget tells a compelling story:
– Kenya: $31.9 billion (up 3.1% from 2024/25)
– Uganda: $19.61 billion (up 36%)
– Tanzania: $18.85 billion (up 11.2%)
– Rwanda: $4.63 billion (up 11.2%)
– South Sudan: $1.4 billion
– Somalia: $1.36 billion (up 24.4%)
The hike in Somalia’s budget highlights the country’s ambition to bolster its fiscal framework, especially in light of the economic hurdles in the region and the shifting needs within its borders.
Edited by: Ali Musa
alimusa@axadletimes.com
Axadle international–Monitoring
