Posts

Showing posts from December 31, 2018

Somalia's Parliament approved the country's 2019 budget

Image
File: Somali Lower House Mps Mogadishu- The Lower House of the Federal Parliament of Somalia has approved a $340 million budget for the financial year 2019 anonymously .  The Lower house members voted collectively for the 2019 Financial budget in majority voting of 174 out of 275 of the overall members of the national assembly  submitted by the Ministry of the Finance. During the session, all 174 lawmakers endorsed the budget and no one has rejected or obtained from the voting. The cabinet has last October approved a $340 million budget for the financial year 2019, the largest in recent years tripling the 2013 budget which stood at $114 million. The budget which is also an increase of $70 million from last years $274 will see its financing drawn from the domestic market, international donors and governments. Somalia has been the most corrupt country on the planet for the last two decades, according to the International Financial Institutions.