Somaliland house of representatives approves 2020 budget

Somaliland’s house of the representatives has today approved the 2020 government budget submited to the house earlier this month by the minister of finance Sa’ad Ali Shire .

Before approving the budget the members of the house disscussed Wide-ranging issues at the house floor including the economic condition of the country.

Key among the issues disscued before parliament approved the budget for the financial year 2020 was the shilling losing 35% of its value earlier this year, but regaining some of it after central bank intervention.

Another thing that was noted is the trade deficit wich is huge, this has contributed to the depreciation of the national currency.

42 members of the house of the represntative passed the 2020 financial budget for the government while 7 members vote against it.

The national government budget for the year 2020 is 2.750 Trillion Somaliland shillings. This is equivalent to a little over 330 Million U.S dollars.

The government gave priorities to sectors in alignment with the national development plan, including security, elections, health, education, justice, and devolution.

In this regard, more than a third of the national budget has been allocated for national security.

Education will take up nine percent of the national expenditure and infrastructure development a four percent.

The cabinet of President Muse Bihi approved the budget in a meeting on 19th November.