SOMALIA BUDGET POLICY BRIEF #4
This Budget Policy Brief (BPB) is the fourth assessment of Somalia’s macroeconomic and fiscal performance for the year 2024 with detailed review of the fourth (4th) quarter and the end-year preliminary estimates. It evaluates key macroeconomic indicators, including economic growth, inflation, the country’s external debt situation, and the revenue mobilization and expenditure performance of the Federal Government of Somalia (FGS) and the Federal Member States (FMS).
The Brief is structured into the following sections: Recent Macroeconomic Developments, Government Budget Operations, Fiscal Development Outturn, Comparison of Fiscal Operations, and Federal Member States’ Financial Operations. The analysis presented in this Budget Brief is supported by data provided by the FGS Ministry of Finance and other public agencies.
The content of the Brief is organized into the following sections:
- Recent Macroeconomic Developments and Federal Government of Somalia Operations.
- FGS Fiscal Development Outturn for the fourth quarter of 2024 and preliminary estimates for 2024.
- FMS Financial Operations for the fourth quarter of 2024.
- Action Items for the Ministry of Finance to Improve the Macroeconomic and Fiscal Performance of the FGS.
This Budget Policy Brief is the result of collaboration among staff and associates of the Horn Economic and Social Policy Institute (HESPI). We partnered closely with civil society organizations, whose contributions to the budget cycle discussions and constructive feedback have been invaluable.