Somalia Budget Policy Brief – 2024
This budget policy brief was prepared by the Horn Economic and Social Policy Institute (HESPI) and presents the macroeconomic framework for Somalia for the recent period through the first quarter of 2024 (Q1). It covers the performance of the budgetary operations of the Federal Government of Somalia (FGS) and a brief overview of the operations of the Federal Member States (FMS). The Budget Policy Brief analyzes the implications of the fiscal indicators of domestic resources mobilization and public expenditure with a view to facilitate an open and informed public dialogue on the national economy and management of public finance in particular. The Brief is organized into the following sections: Recent Macroeconomic development; Government Budget Operations; Financial developments Outturn through 2024 Q2; Comparison of Fiscal Operations between 2023 Q1 and 2024 Q2; Federal Member States (FMS) Financial Operations; and Summary of Findings and Conclusions.
The analysis underlying the Budget Policy Brief is based on publicly available data produced by the FGS. This Policy Brief is the first of four (4) Budget Policy Briefs for the country commissioned by the Ministry of Finance of Somalia under the World Bank supported Public Finance Reform project. The public finance project aims to strengthen resource management systems, intergovernmental fiscal frameworks, services delivery in health and education in eligible FMS, and citizen engagement and feedback. The civil society focused component of the project recognizes the importance of public participation in ensuring transparency and accountability within the budgetary processes and by empowering citizens and informing them.