Somaliland parliament approves 2024 budget

June 30, 2024

By M.A. Egge

Somaliland parliament endorsed and passed the Financial Bill of the year 2024 on Saturday. The bill was first dispensed with earlier in March but was not assented to and was returned to the parliament by the Presidency owing to amendments made.

However, after reflection, the lower House of Representatives dealt duly with it on 29^th June dispelling fears that its failure would have disrupted appropriations and government administrative services, especially given that this was a crucial election year.

With an attendance of 58 MPs, 35 voted to endorse the bill in its entirety, with nine members abstaining, and thus, the nation and the people sighed in relief at last.

Initially, the state hand-approved it in the Council of Ministers’ cabinet meeting in its 122nd Session on the 28^th of December 2023.

The Finance Bill this year was mainly based on bolstering the defense and geared towards the electioneering processes of the country.

The 2024 annual budget presented by the Ministry of Financial Development of Somaliland, totals 3,432,316,337,448 Somaliland shilling(Three Trillion, Four Hundred and Thirty-Two Billion, Three Hundred and Sixteen Million, Three Hundred and Thirty-Seven Thousand, Four Hundred) and forty-eight) Somaliland shillings;

In a glance it consists;

General government budget

Central Government budget

Local government budgets

Independent Institutions

World Bank projects

The 2024 budget is guided and centred on the following points:

Strengthening the country’s security system,

The cost of elections

Balancing income and expenses,

Inflation control,

Promotion of judicial service,