The 76th session of the Cabinet of the Republic of Somaliland has reviewed reforms to public financial management, efforts to boost government revenue and the economic impact of ongoing tensions in the Middle East.
The meeting, held at the Presidential Palace, was chaired by Vice President and Acting President H.E. Mohamed Ali Aw Abdi.
State Minister for Finance and Economic Development Dr. Ismail Mawlid Abdillahi briefed ministers on proposed reforms to public financial management legislation, focusing particularly on the General Revenue Law and the Public Financial Management Law.
He stressed the importance of developing regulations that would provide detailed procedures and mechanisms for implementing the two laws.
The State Minister also outlined the ministry’s efforts to accelerate the collection of projected revenues from government ministries and agencies, describing the initiative as a key component of strengthening financial management and increasing national revenue.
Dr. Ismail further briefed the Cabinet on the country’s broader economic situation, including the impact of tensions in the Middle East on national revenue and the livelihoods of Somaliland’s population.
On the 2027 National Budget, the State Minister said preparations and submission of the budget were progressing in line with the timetable and procedures established for the process.