Mogadishu, Somalia – The Deputy Prime Minister of the Federal Republic of Somalia, Salah Ahmed Jama, officially launched the 2024 Annual Financial Development Report at a significant ceremony in Mogadishu. The comprehensive report, meticulously prepared by the Federal Government of Somalia’s Ministry of Finance, offers a detailed overview of the nation’s financial landscape.
The grand event showcased the substantial financial achievements Somalia realized throughout 2024. It also candidly addressed the challenges encountered during the year and spotlighted various development opportunities that require effective utilization for the nation’s progress. This annual report is a clear indication of the government’s persistent efforts to refine the country’s financial management, boost domestic revenue generation, and enhance both accountability and fiscal transparency.
Bihi Imaan Ege, the Minister of Finance for the Federal Government of Somalia, delivered an extensive speech at the launch. He emphasized that the Ministry of Finance’s successes were not solitary achievements, extending heartfelt gratitude to all cooperating entities, with the Parliament notably at the forefront, for their collaborative contributions to the country’s financial advancements.
A truly historic step was taken this year by the Ministry of Finance, as it formally commenced the official presentation of the Annual Financial Report for the very first time. This initiative is a crucial move towards fostering greater transparency, accountability, and bolstering the confidence of both the Somali public and international partners who support Somalia’s development trajectory. The report aims to provide clear insights into the nation’s economic health and the government’s stewardship of public funds.
The launching of this report signals a new era of openness and responsible financial governance for Somalia. It serves to inform stakeholders about the country’s economic standing and strategic fiscal direction, reaffirming the government’s dedication to sustainable development and economic stability.
