The two Houses of the Federal Parliament of Somalia have today approved by a majority the proposed budget of the Government of Somalia for the coming year 2024.
A total of 183 MPs in both houses have approved the government’s budget. Three members opposed it.
According to MP Mohamed Farah Nuh, the chairman of the finance and budget committee of the House of Representatives, the budget presented to the parliament was more than one billion ($1,079,315,784).
Minister of Finance Mr. Bihi Iman Cige, who thanked the parliament for the implementation of the budget, underlined the important role that the budget plays in facilitating the process of debt forgiveness in Somalia, which is nearing completion.
The Minister of Finance said that the government is committed to successfully manage the debt forgiveness process, saying that Somalia will be the first country to be allowed to continue receiving aid, having been forgiven.
“No other country has been given this priority. The approved budget is ready to greatly contribute to Somalia’s efforts to secure debt relief, which shows an important achievement for the nation,” said Minister Bihi. Leg.
The approved budget is expected to support Somalia’s quest for financial stability and to contribute to efforts to secure the country’s debt relief.
