Hargeisa- Somaliland Ministry of Finance Development has officially started the 2020 Budget Preparation Process, and held negotiations and analysis with concerned Ministries, in Hargeisa.
Vice-Minister Ministry of Finance Development Mr. Abdikadir Mohamud Sheikh Muhumed (Dhagowayne), who chaired the Budget debate meeting, also by attended Director-General of the Ministry of Finance Mr. Mohamed Abdi Gurhan and senior officials from various government agencies.
The meeting has discussed the distribution of the 2020 budget to government agencies in-depth, in line with the priorities for the 2020 budget.
This year’s budget preparation process will also be the first of its kind to be developed in Somaliland’s Financial Management Information System (SLFMIS), pending national financial data, and aligning the 2020 budget manual with the needs and basic services.
Discussion & negotiations have been set foundation policy factors mentioned in the 2020 Budget Policy, assigned the National Budget Planning Committee.
The Budget 2020, which is based on the National Development Plan’s Strategy 2, will be submitted to the Council of Ministers and the House of Representatives as constitutional mandates.
It is also worth noting, that the Ministry of Finance has developed the Medium Term Fiscal Framework (MTFF), which forecasts revenue and expenditure over the next three years, which will be forwarded to Cabinet and Representatives soon.
By Mohamoud Walaaleye