Somalia proposes a $1.34 billion budget for FY2025 and plans its first international borrowing in 34 years.

[Deeq A.]

The Somali cabinet has approved a budget of $1.34 billion for the Federal Government for 2025, representing a 24.4% increase from the previous year’s allocation of $1.079 billion. This increase is attributed to rising domestic revenue and the necessity to address recurring expenditures, with projected domestic revenue set at $429.4 million—up 24% from $346.2 million in 2024.

Source: Hiiraan Online