Somalia Unveils $1.34 Billion Budget for FY2025, Announces First International Loan in Over Three Decades
The Somali administration has greenlit a federal budget of $1.34 billion for 2025. This represents a hefty 24.4% uptick from last year’s allocation of $1.079 billion. This financial boost stems from an uptick in local earnings and the need to tackle ongoing expenses, with homegrown revenue expected to hit $429.4 million, up 24% from $346.2 million in 2024.Taking a gander at the 2025 budgets of East African Community (EAC) nations:Kenya: $31.9 billion (up by 3.1% from 2024/25) Uganda: $19.61 billion (a whopping 36% increase)…