FGS Domestic revenue soars 14%, with tax revenue soaring 10% and non-tax revenue soaring 25%

[bidenkulaha]

Massive construction boom in Mogadishu, threefold YOY

Incredible to see such a massive rise in construction in 2023 Q1 compared to the same period in 2022.

Mogadishu set to become the real estate capital of Africa at this rate! That’s proof of the massive improvement in security under this government

Overall grants from foreign countries plummeted so the overall numbers don’t look as good but we’re racing towards self dependency. Domestic revenue is usually lower in Q1 as corporation tax is charged twice later in the year so it only gets better from here on out. Grants will pick up for example EU have released 20 million emd
of Q2, similarly World Bank/IMF grants likely to be released later in the year as we hit our trigger points.

 

[World]

Brother have some shame.

Are you seriously celebrating that Somalia's domestic revenue increased by $35 million in one whole year?

For comparison, Ethiopia's domestic revenue increased by 20.59 % or $1.1 billion between 2020/2021 and 2021/2022. At 14 % increase a year, we will reach Ethiopia's current domestic revenue in 2047.

 

[Sup]

Brother have some shame.

Are you seriously celebrating that Somalia's domestic revenue increased by $35 million in one whole year?

For comparison, Ethiopia's domestic revenue increased by 20.59 % or $1.1 billion between 2020/2021 and 2021/2022. At 14 % increase a year, we will reach Ethiopia's current domestic revenue in 2047.

Well Ethiopia didn’t go through 30+ years of civil war did they. Somalia is been rebuilt from the ground up, all achievements no matter how small should be celebrated brother.

 

[Nin123]

Brother have some shame.

Are you seriously celebrating that Somalia's domestic revenue increased by $35 million in one whole year?

For comparison, Ethiopia's domestic revenue increased by 20.59 % or $1.1 billion between 2020/2021 and 2021/2022. At 14 % increase a year, we will reach Ethiopia's current domestic revenue in 2047.

For two years the budget didn’t increase it stayed in the same place no more than 950 million to 960 million never crossed 1 billion dollars.

 

[bidenkulaha]

Brother have some shame.

Are you seriously celebrating that Somalia's domestic revenue increased by $35 million in one whole year?

For comparison, Ethiopia's domestic revenue increased by 20.59 % or $1.1 billion between 2020/2021 and 2021/2022.

FGS revenue = Mogadishu revenue. 3 million population is hardly compared to 100million.

Regardless this is the sort of progress we need to get debt relief and access to IMF loans which can then be spent on revenue raising infrastructure.

Ethiopia’s revenue is 6 billion. Mogadishu raises around 230mn set to rise to 280mn this year. Per capita that is better than Ethiopia. Once we have access to international finance revenue will balloon

Regardless 14% increase is a big deal. A couple more years of that and our budget under Farmaajo (less than 30% domestic revenue) goes to 90% domestic revenue funded.

 

[RiceMuncher]

Brother have some shame.

Are you seriously celebrating that Somalia's domestic revenue increased by $35 million in one whole year?

For comparison, Ethiopia's domestic revenue increased by 20.59 % or $1.1 billion between 2020/2021 and 2021/2022. At 14 % increase a year, we will reach Ethiopia's current domestic revenue in 2047.

Can't compare a country of a 120mil when SFG stats only consist of Banadir lmao

 

[Calaami]

Brother have some shame.

Are you seriously celebrating that Somalia's domestic revenue increased by $35 million in one whole year?

For comparison, Ethiopia's domestic revenue increased by 20.59 % or $1.1 billion between 2020/2021 and 2021/2022. At 14 % increase a year, we will reach Ethiopia's current domestic revenue in 2047.

Only 20 million in increase of domestic revenue since last year, lackluster if you ask me.

 

[World]

FGS revenue = Mogadishu revenue. 3 million population is hardly compared to 100million.

Regardless this is the sort of progress we need to get debt relief and access to IMF loans which can then be spent on revenue raising infrastructure.

Ethiopia’s revenue is 6 billion. Mogadishu raises around 230mn set to rise to 280mn this year. Per capita that is better than Ethiopia. Once we have access to international finance revenue will balloon

Addis Ababa has the same population as Xamar but generated $1.1 billion in revenue which means it has 4x the GDP per capita.

 

[World]

Only 20 million in increase of domestic revenue since last year, lackluster if you ask
meView attachment 283513

Can't compare a country of a 120mil when SFG stats only consist of Banadir lmao

Addis Ababa has the same population as Benadir, and its revenue increased by $200 million in the past year whilst the entire FGS’s revenue only increased by $20 million.

 

[Aurelian]

Well Ethiopia didn’t go through 30+ years of civil war did they. Somalia is been rebuilt from the ground up, all achievements no matter how small should be celebrated brother.

They literally went through genocide couple years ago.

 

[Aurelian]

it is not that big, but it is something.

 

[warside]

Only 20 million in increase of domestic revenue since last year, lackluster if you ask me.

View attachment 283513

Domestic revenue increase is 8 million when compared to Q1 last year, that's why the increase of 8 million represents 14% increase on 57.4 million (2022 Q1).

Yearly growth in 2022 was also similar, 10.5% growth on tax revenue and 21.7% increase on non-tax revenue.

 

[Burqad]

Addis Ababa has the same population as Xamar but generated $1.1 billion in revenue which means it has 4x the GDP per capita.

What? For real? Amharas really do live in the forest