Sunday January 1, 2023
Mogadishu (HOL) - On Thursday night, Somali President Hassan Sheikh Mohamud signed into law the government's budget for the fiscal year 2023, which was passed by the Federal Parliament in a joint session last week.
President Mohamud praised the Ministry of Finance and economic experts for preparing the budget according to the development vision, rebuilding the army and liberating the country.
newsinsdeThe Lower and Upper House
parliamentarians signed off on the $973,985,805 national budget on Thursday, with 172 MPs voting in favour and one abstention.
The government of Somalia has increased this year's budget for public welfare areas, including government health centers, education and the security sector.
Domestic revenue and foreign funds will be used to fund the nearly $1 billion national budget, with domestic funds estimated to be $283.3 million in 2023, up $36.3 million
from 2022.
Somalia's cabinet
approved the budget in mid-November.
As in previous years, donors will provide nearly 70% of Somalia's budget.