Somalia's cabinet approved budget of $967.7 million for the year 2023

[Prince of HS]

Nearly a billion. 70% is foreign aid which is poor. 15.6% increase in Domestic revenue from last year so that's something at least

 

[The alchemist]

Do you have any stats on the previous years' budget?

 

[Prince of HS]

Do you have any stats on the previous years' budget?

https://hornobserver.com/articles/1418/Somali-cabinet-passes-699mln-USD-budget

 

[Prince of HS]

Inshallah when the whole of Somalia is free from Al Shabaab, we will go through a huge economic boom.

$1 billion with 60-70% being external funding is literally nothing but we will get there. No matter what your political view or clan is, this should be a common goal for us all. Anaga daan ayeey ceeb nagu tahay this whole lagging behind other African countries let alone the whole world

 

[The alchemist]

https://hornobserver.com/articles/1418/Somali-cabinet-passes-699mln-USD-budget

I wonder to what proportions of the increase is due to the domestic revenue. You can slightly get the indication of the growing economy through indirect measures when you don't have all the measurements and instruments in place. Only in the formal segment, though, the informal would be under radar until it gets properly integrated into a coherent system.

 

[The alchemist]

Inshallah when the whole of Somalia is free from Al Shabaab, we will go through a huge economic boom.

$1 billion with 60-70% being external funding is literally nothing but we will get there. No matter what your political view or clan is, this should be a common goal for us all. Anaga daan ayeey ceeb nagu tahay this whole lagging behind other African countries let alone the whole world

It's hard to get investment and healthy economic participation when things related to security are not handled.

 

[Prince of HS]

I wonder to what proportions of the increase is due to the domestic revenue. You can slightly get the indication of the growing economy through indirect measures when you don't have all the measurements and instruments in place. Only in the formal segment, though, the informal would be under radar until it gets properly integrated into a coherent system.

The domestic revenue is surely rising however foreign aid is increasing at the same time. I will get down to reading if whether domestic revenue or foreign aid is having a bigger impact on the increase in annual budget when I'm free later on.

 

[Prince of HS]

It's hard to get investment and healthy economic participation when things related to security are not handled.

yes if there is no peace or safety, the economy will be stagnant or crash. With improving security, more investment will hugely increase our domestic revenue inshallah

 

[The alchemist]

The domestic revenue is surely rising however foreign aid is increasing at the same time. I will get down to reading if whether domestic revenue or foreign aid is having a bigger impact on the increase in annual budget.

What you need is a strong economic base eventually (I understand the reliance of external stimuli initially). A problem is the import/export parity as well. You would want to reduce that asymmetry. It's unrealistic to have it balanced but given the context, it should be improved upon, and that would reflect better internal industry and self-sufficiency capacity, less vulnerability to international fluctuation.

 

[Prince of HS]

@The alchemist

 

[Prince of HS]

What you need is a strong economic base eventually (I understand the reliance of external stimuli initially). A problem is the import/export parity as well. You would want to reduce that asymmetry. It's unrealistic to have it balanced but given the context, it should be improved upon, and that would reflect better internal industry and self-sufficiency capacity, less vulnerability to international fluctuation.

our exports are so low compared to our imports. Most of our exported food and other products can be homegrown or made in factories. Self sufficient Somalia would solve a lot of our problems

 

[The alchemist]

our exports are so low compared to our imports. Most of our exported food and other products can be homegrown or made in factories. Self sufficient Somalia would solve a lot of our problems

Yeah, there are a lot of issues with the environment itself; reality is, brother, the broader Somali lands are not very arable. Still, the efficiency to extract a heightened potentiality out of what is out there of farmlands, including building better industry with nice infrastructure while as well focusing on certain economic edges for the region, will certainly put the people in a favorable position.

I had this reading material. I will check for it.

 

[The alchemist]

A 13-year-old document, still gives some insight:

https://eeas.europa.eu/archives/delegations/somalia/documents/eu_somalia/eu_strategy_for_support_to_agricultural_development_en.pdf

 

[Prince of HS]

Yeah, there are a lot of issues with the environment itself; reality is, brother, the broader Somali lands are not very arable. Still, the efficiency to extract a heightened potentiality out of what is out there of farmlands, including building better industry with nice infrastructure while as well focusing on certain economic edges for the region, will certainly put the people in a favorable position.

I had this reading material. I will check for it.

100% correct walaal. Somalia has to take advantage of the arable land it already has. Invest in the agriculture sector, supporting small-scale and large-scale farmers as well as making sure the Shabelle river and Jubba river flow is not being impacted by Ethiopian dams.

 

[Prince of HS]

The SNA Soldiers and officers should have a salary increase. Huge morale booster

 

[Lovegrain]

Take reer badiyo people into factories and keep them there. These people are the ones that keep Somalia down to be honest, they are a burden.

 

[FBIsomalia]

Nearly a billion. 70% is foreign aid which is poor. 15.6% increase in Domestic revenue from last year so that's something at least

As always, we want our cut from AID. Lets hope qoslyaa dont act like xarmaajo.

 

[Prince of HS]

As always, we want our cut from AID. Lets hope qoslyaa dont act like xarmaajo.

Qoslaye needs a new nickname. The nigga barely smiles anymore compared to 2012-16

 

[CanoGeel]

Qoslaye needs a new nickname. The nigga barely smiles anymore compared to 2012-16

Mad Hassan, Xasan Xanaaqsane

 

[Cali1996]

Inshallah when the whole of Somalia is free from Al Shabaab, we will go through a huge economic boom.

$1 billion with 60-70% being external funding is literally nothing but we will get there. No matter what your political view or clan is, this should be a common goal for us all. Anaga daan ayeey ceeb nagu tahay this whole lagging behind other African countries let alone the whole world

I remember back in 2010 it was 140 million dollars.