budget

MOGADISHU, Somalia - In a fresh fiscal launch, the Somali government nodded to a $1.3 billion budget for the year 2025. This allocation marks a modest uptick from last year's financial forecast, putting the onus on the Treasury to scrounge up funds by revamping the nation’s economic systems. Lending their spirits to this financial framework, Prime Minister Hamza Abdi Barre’s cabinet gave the green light shortly after the National Consultative Council (NCC) meeting wrapped up. This gathering converged the brains from…

Mogadishu (AX) – At a special gathering led by Prime Minister Hamza Abdi Barre, Somalia's Cabinet of Ministers gave the green light to a whopping $1.3 billion budget for 2025. This decision was made during an urgent session held on Tuesday. This budget showcases a 24.4% jump from the previous year's allocation, all thanks to a surge in home-grown revenue. The Ministry of Finance spilled the beans, revealing that the budget for 2025 had ballooned by $263 million compared to the $1.08 billion earmarked for 2024. “Ramping up…

EU Allocates $9 Million to Bolster Somalia’s Budget The European Union (EU) has committed $9 million to aid Somalia’s federal budget. This cash injection aims to address shortfalls encountered during budget drafting. According to an EU statement, the funding comes in recognition of Somalia’s strides in economic stabilization and financial reform, leading to improved service delivery. The EU emphasizes that this contribution is part of the State and Resilience Building Contract (SRBC), which seeks to enhance the Somali…

Kenya’s administration is on the cusp of securing a hefty $1.5 billion loan from the United Arab Emirates at an 8.2% interest rate, aiming to address the financial shortfall plaguing the East African nation, a source in the know told Reuters. "Kenya is broadening its budget support sources," noted the insider, hinting that "the deal is practically in the bag." The finance ministry and central bank of the UAE didn't immediately respond to requests for a statement. Kenya's Finance Minister John Mbadi and top ministry…

In the Democratic Republic of the Congo, the regular parliamentary session for March opened on Tuesday, March 15, 2022. Parliamentarians will have a particularly busy agenda, especially with the debates on various texts on electoral organization. Despite this…

Somalia: Cabinet Approved $206 Million Budget Amid Ongoing Elections MOGADISHU, Somalia - Somalia's federal authorities cupboard underneath Prime Minister Mohamed Hussein Roble has accepted a finances to cowl the nation's bills over the following three months amid ongoing elections within the nation. The provisional finances of 206 million {dollars} is supposed to preserve this authorities…

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…

France confirms that it has frozen its budget support to the Central African Republic and has also suspended its military cooperation. In Paris, the Ministry of Defense invokes an anti-French campaign led by Russia, in which the Central African authorities are said to be involved. Five cooperatives that have worked specifically…

The text, which was adopted last week by the National Assembly, provoked strong reactions from the opposition and civil society. The latter had condemned "a budget voted in a hurry and contrary to the needs and challenges of the people". Yesterday afternoon, the Rohy movement, which brings together associations across the country, organized a citizens' debate in the capital Antananarivo to better…

Without delay, the Congolese National Assembly on Thursday, December 3, adopted the Finance Bill 2021, which allocates a budget slightly higher than the revised budget for 2020, a year marked by explosive budget overruns in political institutions. . A budget, really, less applauded, but realistic according to the authorities.…