Preparations for the 2022 government Budget have officially started today at the Ministry of Finance of the Republic of Somaliland. According to the plan, 6 to 7 Ministries or Agencies will participate the budget preparation discussion.
Government Ministries and Agencies prepare their Budget Estimates, and then consult with Ministry of Finance officials who have the mandate for the coordination and preparation of the Budget, and they discuss what is possible from the proposals and the recommendations of the Public Institutions, based on the amount of revenue expected to be generated next year as well as the priorities of the Public Budget policy.
On the other hand, next year’s Government Budget Estimates will be a comprehensive one and will contain budget the details of the autonomous Agencies, Local Governments, as well as Foreign Grants. The preparation of the Comprehensive Budget is a step forward in terms of accountability and transparency and its first phase was implemented this year, in accordance with the Public Financial Management Act No. Lr. 75/2016.
