Hargeisa (Somaliland Monitor)-The cabinet in its weekly meeting on Thursday approved the annual budget for 2017- which is the 25th budget; since Somaliland reclaimed its sovereignty and merger from the Former Italian Colony of Somalia in 1991.
According to a Press Release from the Presidency the 2017 budget is 2,175,104,355,622Somaliland Shilling which is equivalent to $362,517,393. This is an increase of 27.5% from last year’s budget.
|5||Income from decentralizationproject||12,722,892,000||2,120,482|
Assistant Minister for Finance Ali Mohamed Ahmed told the media -after the budget was passed- that the budget includes $9,000,000 (Nine million dollars) to cover the share which would have been provided by donor countries, for the Presidential Election which is expected to be held I n 2017.
The 2017 budget will include special fund for training for security forces for the defense of natural resources and oil.
It will also cover a 10% increase in the salary for Civil Servants and Security Forces.
The budget includes improvement in the infra-structure such as building roads, repairing and digging new wells and boreholes to provide sufficient water for the people and as precautions of repeated droughts.
The 2017 budget allots funds for development projects, job creation, local investment, improving health and encouraging local production.
Source: The Republican