Somaliland President Muse Bihi Abdi has approved the 2023 Annual Budget by signing its implementation through Presidential decree reference number JSL/XM/WM/222-966/122022.
While exercising his powers as per Article 90, and also, Article 75 of the Constitution, the Head of State appended his signature to the decree on Monday 19th of Dec 2022, approving the National Budget 2023 effective from 1st January 2023.
It consists of the Central Government, Local Governments, Independent Government Agencies, and (International Donations) SL.SH= 3,581,440,706,340/= (Three Trillion, Five Hundred and Eighty-One Billion, Four Hundred and Forty Million, Seven Hundred and Six Thousand, Three Hundred and Forty Somaliland Shillings).
This follows the unanimous endorsement of the budget by the parliament recently.
In essence, the budget is 4% more than the previous year, while the central government’s budget is 5% more than the previous year.
The annual budget estimates approved comprise of the following sectors:-
- General government budget
- Central Government Budget
- Local government budgets
- Independent Institutions
- Overseas projects
This one has generally increased, or exceeded that of the previous year for 2022, by 4%, given that the central government sector budget has increased by 5% compared to previous budgets.
The 2023 budget forecast will focus chiefly on the following:-
- Agricultural production
- Environmental protection
- Foreign (Recognition lobbies)
- Technical skills institution and
- National Employment Program