THT-The Council of Ministers of the Republic of Somaliland has unanimously approved the 2022 budget, which is larger than the 2021 budget, and contains an ample increase in the salaries of the Somaliland Armed Forces.
The 84th session of the Cabinet Ministers, chaired by the President H.E. Muse Bihi Abdi, approved the 2022 budget after lengthy discussions and deliberation.
The 2022 Annual Budget, presented to the Council by the Somaliland Ministry of Finance Development Dr Saad Ali Shire, amounts to 3,447,802,505,538 (Three Trillion, Four Hundred and Forty Seven Billion, Eight Hundred and Two Million, Five Hundred and Five Thousand Five Hundred and Thirty Eight shillings.) and is 17% (Seventeen Percent) more than this year’s 2021 budget.
The 2022 Budget Estimates are as follows:
The government’s total budget has increased by 17% this year
The Central Gov’t budget has increased by 11% this year
Local government budgets have increased by 44% this year
The budget of the private sector has also increased by 12% this year
Foreign aid projects budgets have also increased by 41% this year.
It is noteworthy that this year the country’s armed forces have received a 20% increase in their salaries.
The Minister of Finance entrusted to formulate the 2022 budget, Minister Dr. Saad Ali Shire elaborated that the 2022 annual budget will be given priority in the following areas:
- Balance income and expenses,
- Controlling inflation
- Protecting the value of the Somaliland shilling.
- Withdrawal of dependence on customs duties.
- Strengthening security.
- Catching and extracting water.
- Drought mitigation planning.
- Strengthening the national reserve.
- Improving health and education services.
- Production promotion.
- Environment.
- Strengthen the quest for recognition.
- Infrastructure.
The Minister of Finance, Dr. Saad Ali Shire, who read out the budget estimates item by item, said the Ministry of Finance, which is responsible for the nation, has developed a budget to meet the nation’s diverse needs. The cabinet commended the efforts of the Ministry of Finance and its staff for the time it has taken to produce the 2022 budget.
In the end, President Muse announced a vote to approve the budget, the council voted unanimously, with one exceptional, as one minister rejected the approval.