Somali parliament approves $340m for 2019 budget

The Lower House of the Federal Parliament of Somalia has today approved a $340 million budget for the financial year 2019.

The Federal MPs unanimously voted in favour of the new budget submitted by the Ministry of the Finance, giving the Federal Government a go-ahead to continue its operations.

During the session, all 174 lawmakers endorsed the budget and no one has rejected or obtained from the voting.

The cabinet has last October approved a $340 million budget for the financial year 2019, the largest in recent years tripling the 2013 budget which stood at $114 million.

The budget which is also an increase of $70 million from last years $274 will see its financing drawn from the domestic market.

The finance minister Dr Abdirahman Dualle Beyle has thanked the lawmakers for the approval of the budget and promised for accountability and transparency.

Goobjoog News