Mogadishu, July 15, 2024 – The Federal Ministry of Finance, under the leadership of H.E. Prime Minister Hamza Abdi Barre, launched the Financial Governance Report of Somalia today.
The report, which covers a decade from 2013 to 2023, provides a comprehensive overview of the country’s financial management, transparency, and accountability.
The launch event, held at the prestigious Decale Hotel, was attended by senior ministry officials and key stakeholders. The Financial Governance Report is expected to shed light on various aspects of fiscal policies, budgetary processes, and the implementation of financial reforms aimed at improving governance and economic stability in Somalia.
“This report is a testament to our commitment to transparency and accountability,” said the Prime Minister during his opening remarks. “It is a crucial step towards building a stronger, more resilient economy that benefits all Somalis.”
The Financial Governance Report is part of the government’s broader efforts to strengthen the country’s financial system and attract investment. It comes at a time when Somalia is making significant strides in economic development, with a focus on sustainable growth and poverty reduction.
“We are proud of the progress we have made over the past decade,” said the Minister of Finance. “This report is a reflection of our dedication to good governance and financial integrity.”
The Financial Governance Report is expected to serve as a valuable resource for policymakers, investors, and the public, providing insights into the country’s financial performance and the effectiveness of its fiscal policies.
As Somalia continues to forge ahead in its journey towards economic recovery and growth, the Financial Governance Report serves as a key milestone, highlighting the government’s commitment to transparency, accountability, and sustainable development.
