By Asha Elmi - Reporter
Mogadishu, 16 September 2026 Somalia's Ministry of Finance says government revenue has doubled over the past four years, driven by digital tax reforms and tighter financial management.
Finance Minister Bihi Iman Egeh presented the ministry's annual report on Wednesday, which assesses progress in public financial management, domestic revenue, debt and public investment.
Egeh said Somalia has made significant progress in budget transparency, noting that the latest Open Budget Survey showed the country now scores above the sub-Saharan Africa average.
He said budget oversight has also improved, with a strengthened role for the Office of the Auditor General and parliament in monitoring public finances.
On revenue, Egeh attributed the increase to technology-driven reforms, including the Somalia Customs Management System (SOMCAS), as well as digital platforms for road tax, rental tax and other government services.
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The minister said the government is developing stronger systems for public investment and debt management, including a medium-term debt strategy, new borrowing plans and regulations guiding debt administration.
"We are building the foundation for a transparent debt system. Although Somalia has not yet taken on new debt, we are preparing a framework that supports future investment," he said.
He said shifts in the global economy and declining development financing are pushing Somalia to strengthen self-reliance by increasing domestic revenue and attracting foreign investment.
The government is focusing on infrastructure development, reducing energy costs and creating conditions to support economic growth, he added.