MOGADISHU (Halbeeg News) – European Union (EU) has welcomed the approval of Somalia’s 2019 budget barely a day after President Mohamed Abdullahi Farmajo appended his signature to the budget.
The members of the House of People of the Somali parliament on Sunday approved 340 million 2019 budget following two days of debate.
The figure which was approved by the cabinet in October is about 24 per cent rise from last year’s $275 million budget.
The bloc has extended congratulations to the Federal Government of Somalia and Parliament for the approval of the 2019 Budget and the Pension and Gratuity Bill saying both critical pieces of legislation to implement the ambitious security, economic and inclusive political agenda in 2019.
The government has said that it expects to raise $189.9m which is 55.8per cent of the budget through local taxation.
The donor community will raise the remainder of $124.6m which is 44.2 per cent.
In October, the budget was unanimously approved by Somalia’s cabinet chaired by Prime Minister Hassan Ali Khayre.
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