Somali Cabinet Approves $1.03 Billion National Budget for 2024 with Focus on National Security and Social Services

MOGADISHU — In an extraordinary meeting led by the Prime Minister of the Federal Government of Somalia, HE Hamza Abdi Barre, the Cabinet approved the country’s 2024 national budget of $1,025,687,991 on Saturday.

According to a new release by Somali National News Agency, the budget saw an increase to over one billion dollars this year, fueled by a 20% increase in internal revenue. The budget places a priority on national security and the promotion of social services.

The Prime Minister noted that the budget increase demonstrates the government’s dedication and commitment to achieving full debt relief. He stated that subsequent budget increases will be even higher once this milestone is achieved.