Mogadishu, Somalia – Somalia’s Minister of Finance, Bihi Egeh, has welcomed the Cabinet’s endorsement of the country’s audited financial statements for the fiscal year 2024, calling it a landmark achievement in the nation’s ongoing reform journey.
“This milestone underscores our unwavering commitment to transparency, accountability, and sound financial governance,” said Egeh following the Cabinet’s decision.
The endorsement is seen as a crucial step in strengthening public trust in government financial management and improving Somalia’s credibility with international development partners.
The audit, conducted in line with internationally recognized standards, forms part of broader Public Financial Management (PFM) reforms aimed at enhancing fiscal discipline and ensuring that public resources are used efficiently. It also signals progress towards Somalia’s long-term goal of achieving full financial independence and economic resilience.
The Ministry of Finance reaffirmed its commitment to publishing the audited reports for public access and pledged to implement any recommendations provided by the Auditor General.
The approval follows significant improvements in domestic revenue collection, financial reporting, and digital payment systems, which have been at the core of the government’s financial reform agenda over the past year.