Publication Corporate Author:
Economic Policy & Planning Department
Wednesday, February 17, 2021
Federal Government of Somalia: Government Financial Statistics (GFS) Analytical Report
Nearly eight (8) years have passed since the end of the Transitional Federal Government of Somalia in August 2012, a critical milestone in Somalia’s post-conflict reconstruction and development agenda. Since the formal establishment of the Federal Government of Somalia (FGS), the Government has embarked on a series of ambitious reforms to develop modernized and internationally recognized institutions characterized by the rule of law and made serious headway in promoting a peaceful, secure, and stable Somalia for its citizens. Over the past three years in particular, profound transformation of the Government’s Public Financial Management (PFM) and Public Administration (PA) systems have supported Somalia in rejoining the world and in normalizing its relations with international financial institutions such as the African Development Bank (AfDB), the World Bank (WB) and the International Monetary Fund (IMF).
Against this backdrop, this report provides a high-level overview of the FGS’s economic and financial performance from 2013 to 2019. In the interests of promoting fiscal transparency, the report draws on data publicly available from the Ministry of Finance’s website, which can be downloaded in a tab-separated values format (.tsv) for the reader’s own analysis. As this dashboard draws on real-time data drawn from the Somalia Financial Management Information System (SFMIS), and includes currently unaudited financial information for the 2019 financial year, readers are cautioned that final figures may be revised from the time of publication of this document and should refer to the Accountant General’s Annual Financial Statements, also available on the Ministry’s website, for definitive figures.
The report is divided into five sections. This introductory section outlines the structure of the document and identifies data sources. Section 2 provides a summary of revenue trends. Section 3 provides a summary of expenditure trends, by economic classification, administrative sectors and Ministries, Departments, and Agencies (MDAs), and by functional classification. Finally, Section 4 of this report concludes with brief examination of key opportunities and threats to Somalia’s remarkable economic and financial performance reforms in 2020 and the medium-term.