The Federal Government of Somalia has set aside significant sum of its 2020 budget for the security docket.
Out of the total 459.5 million U.S. dollars budget approved by both the cabinet and parliament, 83.9 million USD goes to department of defense whereas $62.9 million to other security institutions.
The defense budget has increased by $17.5 million (26 percent) from the 2019 budget of $66.4 million. The $18.5 million (42 percent) increase in the security budget over 2019’s $44.4 million.
The allocation is reflected at the Somali National Army remunerations and allowances increase from $130 to $200 per month.
Other sectors such as economic development, education and health also received significant share.
The overall growth of Somali annual budget in the past three years is attributed to the progress made by the revenue and tax collection at the main economic hubs including the port of Mogadishu and Airports.
With expected International Monitory fund (IMF) and World Bank led move to write off Somalia debt in coming months, the horn of African state recuperating from three decades’ civil strife is scheduled to register momentous economic growth driven by the nature entrepreneurship skills of the citizens.
