His Excellency, President of the Republic of Somaliland, Muuse Bihi Abdi, accompanied by the Vice President of Somaliland, Abdiraxmaan Abdilaahi Ismaaciil (Saylici), chaired the 101st session of the Cabinet Ministers of Somaliland. The 2023 budget was presented and after a long discussion and analysis, the council approved the budget.
The 2023 annual budget presented to the cabinet by the Ministry of Finance development of Somaliland, totals SH3,581,440,706,340. This year’s budget is 4% more than last years’.
The budget for 2023 has increased as follows:-
- General government budget
- Central government Budget
- Local government budget
- Independent Institutions
- Foreign Projects
It has increased by 4% this year, while central government budgets have increased by 5% over previous budgets.
In the 2023 budget, the following points will be placed first:
- Agricultural production
- Environmental protection
- Craft Schools and
- National Work Program
The Minister of the Ministry of Finance Development, Dr. Sa’ad Ali Shire stood up and read to the cabinet the budget deficit in accordance with the obligations of Article 55 of the National Constitution, paragraph 1 and the Financial Management Act No. 75/2016 Article 5. The minister said that they’ve created a budget that will meet the various needs of the nation, and that they will also take into account the issues they have made. Afterwards, the President and the members of the Cabinet commended the efforts of the Ministry of Finance Development and its staff, who have put the time into developing the 2023 budget.
Finally, President Bihi said after the approval of the annual budget that everything necessary should be done for the upcoming elections, and urged the people of Somaliland to prepare for these elections.