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Somali President signs 2021 budget into law

MOGADISHU (SD) – President Mohamed Abdullahi Farmajo on Thursday signed into law the country’s 2020/21 Budget, which includes a stimulus package to hold the upcoming elections.

Currently the legitimacy of the Somali Parliament and the approved budget is under question, as the legislative body’s term ended on December 27, 2020.

The total FGS budget for fiscal year 2021 which is over $670 contains a 40 million USD package to use for the elections.

According to the the finance ministry, the budget is divided into three parts, Internal Revenue 260.1 million and Budget Supplement which is 170.9 million, while projects are 240.8 million.

The FGS budget for fiscal year 2021 has an increase of a $194 increase over last year’s $476 million budget.

The budget which was approved by the cabinet in October this year was endorsed by the parliament late last month.

It is noteworthy that the budget has not been submitted to the Upper House of Parliament, which is in dispute with Villa Somalia over the country’s election process, constitutional experts site it as a violation.

Somalia is expected to hold its elections this year as the term of the incumbent president comes to an end next month.

This comes at a time when the government and the opposition are at loggerheads over the country’s 2021 election process.

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