Somali President Signs The $340 Million Budget For 2019

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The President of Somalia, Mohamed Abdullahi Farmajo has assented the budget of 2019 barely a day after the federal parliament approved 340 million.

The President has thanked the members of parliament for fulfilling their constitutional obligations of approving the national budget during their session on Sunday 30th December 2018.

He attributed the growth of the economy that spearheaded to an increase of this year’s budget to his government’s policies towards fighting corruption.

“ The growth of the economy in the country is a piece of evidence towards the policies put in place to fight graft, ” the President said. “A combined effort by the government and the citizens on rebuilding the country is bearing fruits.”

The President called for more focus on social services, employment for young population and stability.

“Most of our budget originated from our revenue collections that clearly shows how we are committed to competing with other countries around the globe, ” he said.

The members of the House of the People of Somali parliament endorsed 340 million 2019 budget on Sunday following two days of debate.

The figure, which was approved by the cabinet in October last year, is about 24 percent rise from last year’s $275 million budget.

Security and development allocations take the lion’s share in this New Year’s budget.

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