Somalia’s Finance minister says Govt treasury is empty

The minister further said domestic revenue is very low, as the government collects taxes only in Mogadishu with the airport and seaport serving as the financial nerve centres.

News Keydmedia Online
20 June 2022

MOGADISHU, Somalia – The outgoing finance minister has announced that the new government has inherited an "empty" treasury, hinting that the pulic money had been stolen.

In a video, Abdirahman Dualle Beileh has dismissed what he described as baseless claims that surfaced on social media saying Farmajo left behind the government treasury full of cash.

Beileh said loudly that there was no more money in the coffers of the government than the salaries for the civil servants and the armed forces to be paid on the 25th of this month.

"I did not say our bank account is full, my statement was misinterpreted, the fact is, you have to know that our income is not enough, we have only the payments of this month," he added.

The minister further said domestic revenue is very low, as the government collects taxes only in Mogadishu with the airport and seaport serving as the financial nerve centres.

The outgoing minister announced that the salaries for the next five months are not currently in his hands. His remarks come days after the World Bank pledged $100 million for Somalia.

Last month, the finance minister submitted the $918.7M federal budget to the cabinet, which was approved and now awaiting the parliament’s Consent with $247.7 million more than last year's budget, which was $671 million.

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