Puntland bankruptcy

[TheMadMullah]

Since the departure of Abdullahi Yusuf for Mogadishu puntland has been in decline politically, socially and financially all due to corrupt and incompetent leadership.

who could have imagined that a minister of education is now begging the populace for monetary contributions so that the primary and high school exams can be marked and results announced 3 months after they were taken lol.

now remember that the students paid 35$ and 25$ per child respectively to sit for the exams. I guess mr yoga stole that money and ran with it for elections bribery and lost miserably

 

[TheMadMullah]

 

[Dark Energy]

The shaythan is back.

 

[repo]

Farmaajo outsmarted the failed politicians like Deni yoga, corrupt Hassan sheikh and terrorist sheikh Shariff.

 

[warside]

Actually this is not true, 50% of the fee was covered by the international donors previously who cut that funding this year so it's a new obligation, nothing to scream about bankruptcy, and exams were always marked in September. but I also believe Puntland and also the federal government don't give the required attention to the education sector, the ministry officials in both always talk about the lack of funding.

 

[Dharbaaxo Jin]

Actually this is not true, 50% of the fee was covered by the international donors previously who cut that funding this year so it's a new obligation, nothing to scream about bankruptcy, and exams were always marked in September.

Did Deni not literally say Puntland only has about 5m Somali shillings left in the bank?

 

[warside]

Did Deni not literally say Puntland only has about 5m Somali shillings left in the bank?

No body uses Somali shilling anymore, Bosaso port was the only port that takes the shilling and that's why they've excess of it in the state bank, so the 5 million dollars worth of shillings in the state bank is worthless now.
Puntland MoF shares its financial reports in their website and every year there's an increase in revenues thanks to new taxes imposed by the Deni administration, for example last year they started collecting sales tax of all imported goods in the port, 0.2% is the rate now and they collect $1 million dollar monthly, they want to increase the rate to 5% which means they can collect up to $ 100 million from this sales tax alone. they earmarked this taxes for roads which is why Puntland recently awarded companies 9 million worth of contracts to fix damaged roads. (Somaliland also takes this 5% sales tax at Berbera port and Wajaale and they probably collect close to 100 million or more which is why you don't see education officials there complaining every year that they can't mark the exams).
So you see, the problem is not that the state is bankrupt, on the contrary they have more revenue now than ever but they earmarked those for other projects and don't seem to give the education sector the proper attention it really needs.