Somalia Says Domestic Revenue Up 80% in Three Years Amid Reform Push

GOOBJOOG NEWS | MOGADISHU: Finance Minister Bihi Iman Egeh has said that Somalia’s domestic revenue has risen by 80% over the past three years, crediting the surge to the government’s intensified push to strengthen internal revenue generation and reduce dependency on external support.

The minister said the growth represents a major shift in Somalia’s fiscal path, calling it an important step toward economic independence and long-term stability.

Biihi said the Ministry of Finance has implemented new regulatory frameworks designed to broaden revenue sources and modernize financial management systems — reforms he described as essential to sustaining economic progress.

“We focused on increasing domestic revenue rather than depending on external funds. We prepared new regulations, and as a result, domestic revenue has grown by 80% in the past three years,” he said.

Officials say the Federal Government aims to minimize external borrowing and avoid accumulating debt, with strengthened domestic revenue seen as crucial to improving the country’s fiscal position and supporting government operations without heavy reliance on donors.

The ministry is expected to introduce additional measures to improve tax collection, enhance compliance, and diversify revenue streams as part of wider public financial reforms.