Ismail Mawliid Abdillahi, Somaliland’s State Minister for Finance and Economic Development, presented a detailed economic update that outlined the nation’s fiscal performance and planning priorities during a briefing held this week.
The State Minister emphasized the ongoing efforts to bolster revenue mobilization and expand the tax base, a move aimed at ensuring the sustainability of public finances. Assessing the projected performance of the 2025 fiscal year, Abdillahi noted positive trends in tax compliance and fiscal discipline across ministries and agencies.
He also outlined the preparatory measures for the 2026 National Budget, which will focus on fostering growth and creating an enabling environment for investments. The briefing further included an evaluation of the progress made on key development projects funded by the World Bank, pointing to successful implementation timelines and alignment with the region’s strategic goals.
Abdillahi reiterated that the ministry is committed to enhancing the credibility of the budget process and increasing the efficiency of public expenditures. He assured stakeholders that Somaliland will continue to promote transparent public financial management practices that align with international standards as part of the government’s broader economic reforms.