Monday December 31, 2018
MOGADISHU (HOL) -The Somalia parliament on Sunday approved a $340 million US budget for 2019.
A total of 175 law makers were in attendance during the session that was chaired by House Speaker, Mohamed Abdirahman.
The figure is an increase from last year’s $274.6 million budget.
Terming the move as crucial, Finance Minister Abdirahman Beileh thanked the lawmakers saying that he will ensure the money will see the government meet its development priorities.
“I thank the Somali parliament for approving the Budget of the year 2019. This shows that the National Government, the Ministry of Finance, will never slow down its efforts to serve the public,” Mr Beileh said in a Twitter post.
The government has said that it expects to raise $189.9m which is 55.8 percent of the budget through local taxation.
The remainder of $124.6m which is 44.2 percent will be raised by the donor community.
In October, the budget was unanimously approved by Somalia’s cabinet chaired by Prime Minister Hassan Ali Khayre.
Meanwhile, the lawmakers also approved a bill that will see soldiers who serve in the forces get pension.
The bill that was drafted by the Ministry of defence is expected to be signed to law by President Mohamed Abdullahi Mohamed.
The pension will address a financial problem that has been hitting soldiers once they retire from the forces despite their dedication in dealing with terrorism.