The 84th session of the Somaliland Council of Ministers chaired by the President of the Republic of Somaliland, HE Muse Bihi Abdi, held on Thursday approved the 2022 budget after lengthy discussions and discussions.
The 2022 Annual Budget, presented to the Council by the Somaliland Ministry of Finance Development, amounts to 3,447,802,505,538 (Three Trillion, Four Hundred and Forty-Seven Billion, Eight Hundred and Two Million, and Five Hundred and Five Thousand Five Hundred and Thirty-Eight). This year’s budget is 17% higher than last year’s (Seventeen Percent).
The 2022 Budget Estimates are as follows:
General Government budget increases by 17% this year
Central Government Budget has increased by 11% this year
Local government budgets have increased by 44% this year
The budget of the other government agencies has increased by 12% this year
Overseas aid projects also increased by 41% this year.
It is noteworthy that this year the country’s armed forces have received a 20% increase in their salaries.
The 2022 annual budget estimates will focus on the following:
- Balance income and expenses,
- Controlling inflation
- Protecting the value of the Somaliland shilling.
- Withdrawal of dependence on customs duties.
- Strengthening security.
- Catching and extracting water.
- Drought planning.
- Strengthening the national reserve.
- Improving health and education services.
- Product promotion.
- Strengthen the quest for recognition.
The Minister of Finance, Dr. Saad Ali Shire read out the budget estimates one by one and how the ministry has taken it upon itself to create a budget to meet the various needs of the nation, stating that they have responsibly reviewed their estimates, with members The cabinet commended the efforts of the Ministry of Finance and its staff for the time it has taken to produce the 2022 budget.
After much debate and discussion, the President of the Republic of Somaliland, HE Muse Bihi Abdi, voted in favor of the budget estimates, and the House unanimously approved the 2022 National Budget, 29 out of the 30 minister’s present approved, 1 minister absented and no one objected to the approval of the 2022 annual budget.