MOGADISHU (Halbeeg News) – Somali President Hassan Sheikh Mohamud has signed into law the government’s budget for the fiscal year 2023 barely three days after the lawmakers approved the budget.
More than 172 MPs voted in favour of the $973,985,805 national budget while one MP abstained, according to the Lower House speaker Sheikh Adan Mohamed Nor Madobe.
The President noted the increase in the budget and praised the Government, especially the Ministry of Finance and Somali economic experts for preparing and setting a budget in line with the national vision of development, rebuilding the army and liberating the country.
The President has commended the Honorable Members of both Houses of the Federal Parliament of Somalia on how they have fulfilled their constitutional obligations regarding the new budget of the country which has been increased.
The nearly 1 billion national budget will be raised through domestic revenue and international grants, with domestic revenue expected to be $283.3 million in 2023, an increase of $36.3 million from this year.
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