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Somalia Keen to Enhance Transparency in Public Finance Administration

Storyline:Business

GOOBJOOG NEWS | MOGADISHU: Federal government of Somalia Finance Minister Bihi Iman Ige has said the government is commitment to enhance transparency in public finance administration.

Speaking during a meeting of the Financial Governance Committee (FGC) in Mogadishu Monday, the minister highlighted ongoing efforts to increase revenue and achieve financial self-sufficiency.

The discussions also centered on development strategies, boosting domestic revenue, strengthening financial management systems, and modernizing the national procurement process.

The FGC, a collaborative initiative between the Federal Government of Somalia (FGS) and the World Economic Organization, aims to enhance financial governance and transparency.

It also brings together the FGS, donors, and international financial institutions (IFIs) to provide independent and transparent advice on policy and implementation, with the objective of improving financial governance in Somalia,  

Among participants in the meeting were; representatives from the Ministry of Finance, the Central Bank, the Prime Minister’s Office, Mogadishu Port, the Immigration Agency, and Somalia’s international partners.