Somalia Revises 2019’s Budget Upward by 13% to $390 Million

Somalia’s Finance Minister Abdirahman Dualeh Beileh. [File Photo]
Somalia’s cabinet approved a revised budget for 2019 after projecting higher domestic revenue, according to Finance Minister Abdirahman Dualeh Beileh.

The government expects to spend $390 million, compared with a previous estimate of $344 million, the minister said in a statement. It also expects to raise $221.3 million in domestic revenue, from an earlier $189.9 million.

The Treasury projects foreign budget assistance will climb 9% to $168.8 million, the minister said. The revised plan will debated in parliament in October.

IMF Sees Somalia Economic Growth Broadly Stable at 2.9% in 2019.

Source: Bloomberg

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