Jigjiga(Dawan Africa) – The Somali Regional State (SRS) of Ethiopia has approved a $1.2 billion USD (65.7 billion Birr) budget for the 2018 Ethiopian fiscal year. The budget was passed during the first session of the Executive Council of the Somali Regional State on Wednesday.
According to the Minister of Finance of the Somali Regional State, Dayib Ahmed Nur, who spoke to the media after the approval, a portion of the budget, $650 million USD (36.9 billion Birr), has been allocated to regional government offices, focusing on infrastructure, education, and healthcare.
Additionally, $25 million USD (1.4 billion Birr) has been allocated to support the region's efforts in achieving the Sustainable Development Goals (SDGs), aimed at combating poverty.
Furthermore, $490 million USD (27.4 billion Birr) has been allocated for the operations of cities, municipalities, and local government districts, reflecting a strong emphasis on decentralizing governance and empowering local authorities to manage their resources efficiently.
The Minister stated that the approved budget also signifies a major shift towards financial self-sufficiency, with 50% of the budget to be generated from the region's domestic revenue, while the remaining 50% will come from external support.
"The budget also indicates a significant shift towards financial self-sufficiency, with 50% of the budget to be generated from the region's domestic revenue," said Dayib Ahmed Nur, the Minister of Finance of the Somali Regional State.
The Minister further stated that the approval of this budget is expected to drive economic growth, improve public services, and support sustainable development throughout the region.
