budget

Somalia’s Parliament Approves $1.38 Billion 2026 Budget Amid Chaos MOGADISHU, Somalia — In a raucous joint sitting, Somalia’s federal parliament on Tuesday approved a national budget of $1,386,807,242 for the 2026 fiscal year, pushing the spending plan through despite loud and repeated procedural disruptions on the floor. Parliamentary officials said 174 lawmakers voted in favor, four opposed it and one abstained. The vote capped a session in which interruptions and objections forced pauses but did not derail the tally. The…

Somalia confirms delay in $30 million Turkish budget support as budget vote looms MOGADISHU, Somalia — Somalia’s government has confirmed a delay in receiving $30 million in annual budget support from Turkey, a setback arriving as lawmakers are yet to approve a federal spending plan valued at more than $1 billion. Finance Minister Bihi Iman Egeh told local media on Wednesday that Ankara’s transfer — a recurring injection into Somalia’s treasury in recent years — has not arrived on its usual schedule. “Turkey has been…

Somalia faces budget pressure as Turkish support stalls Delay of $30 million in Turkish budget support adds strain as Mogadishu readies a spending plan of more than $1 billion. MOGADISHU, Somalia — Somalia’s federal government has confirmed a delay in budgetary support it typically receives from Turkey, with Finance Minister Bihi Iman Igeh saying the funds have not arrived this year as the calendar nears its end. “In previous years, Turkey consistently provided budget support,” Igeh told reporters. “This year’s support,…

Global Health Funding Cuts Threaten Child Survival Rates, Gates Foundation Warns The Gates Foundation has issued a stark warning that millions of children worldwide could face death due to reductions in global health funding, jeopardizing decades of progress in child survival. In its latest report, We Can't Stop at Almost, the foundation revealed a troubling forecast for child mortality rates, marking a significant step back in health advancements this century. According to the report, an alarming 4.6 million children…

Lawmakers Warn of Risks to Draft 2026 National Budget Targets Lawmakers are raising alarms about the ambitious US$1.2 billion target of the Draft 2026 National Budget, insisting that without key reforms, these goals remain at risk of being unmet. This budget, the largest proposed under President Joseph Nyuma Boakai's administration, signifies a bold expansion in government spending. It emphasizes funding for social projects, civil service restructuring, infrastructure investment, and governance reforms. However, lawmakers…

South Africa tightens its inflation anchor — a test of credibility for monetary and fiscal policy South Africa’s National Treasury and the South African Reserve Bank have agreed on a new inflation objective: a 3% target with a one percentage point tolerance band. That shifts the nominal anchor to 3% (effectively a 2–4% acceptable range), and — according to reporting — is part of a fragile compromise between the Government of National Unity and the Medium Term Budget Policy Statement after three failed attempts to pass the…

When a Budget Fight Becomes a Battle for Power The United States finds itself once again at the mercy of procedural paperwork made emotional — a partial government shutdown because Congress failed to pass the stopgap spending bill that keeps federal paychecks flowing and services running. On paper, the dispute looks technical: a few pages of appropriations law and a deadline on the calendar. In practice, it has become a pitched political battle over health-care subsidies, presidential authority and the very idea of…

MOGADISHU, Somalia - Somalia's parliament, armed with two chambers, has given a thumbs-up to a $1.3 billion budget, marking a high point over the years. This financial plan is set to boost various economic sectors, including funding for ongoing infrastructure projects. This approval covers both spending and income as outlined in the Appropriation Act for 2025, ensuring that many governmental departments can pursue their programs seamlessly over the next year. In a unanimous vote, MPs pushed the budget to $1.3 billion, a…

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…

According to recent reports, the UK armed forces are poised to receive a substantial £3 billion boost. This financial injection comes as Rachel Reeves gears up to present the Labour government’s inaugural Budget. Diving into the details, the Chancellor plans to delineate an uptick in defence spending for the upcoming year during her address in the House of Commons. A portion of this windfall will be earmarked for a pay increase for soldiers retroactively effective from April, as noted by the Telegraph. Additionally, these…