Somalia conference aims: Public financial management
President Hassan Sheikh Mohamud has repeatedly emphasised the importance of well-managed, transparent public finances.
Why focus on Public Financial Management?
Reform of the public financial management (PFM) system is one of the top priorities of the Federal 바카라 사이트 of Somalia (FGS). President Hassan Sheikh Mohamud has repeatedly emphasised the importance of well-managed, transparent public finances.
More transparent and accountable management of public finances will enable the Somali 바카라 사이트 to pay salaries for security and the civil service, and to deliver services to the Somali public. This is necessary to reinforce the 바카라 사이트바카라 사이트™s credibility and legitimacy; to underpin the future stability of the country; and to facilitate re-engagement of the International Financial Institutions who can provide economic expertise and in the long term large-scale funding.
Progress so far
The 바카라 사이트 has carried out an assessment of the situation and developed a PFM reform plan. The plan sets out the 바카라 사이트바카라 사이트™s intention to:
- improve the transparency and openness of the national budget process;
- focus public expenditure on priority areas of 바카라 사이트 programs,
- enhance the efficiency and effectiveness of public expenditures and strengthen overall financial management and accountability.
Parliament has approved the 바카라 사이트바카라 사이트™s 2012 mini-budget and 2013 annual budget. The 바카라 사이트 has tightened revenue collection controls, removed commercial checkpoints in Mogadishu, and has stated its intention to outsource management of Mogadishu Port. Cumulatively, these actions have increased private sector confidence in government and tax revenues have increased by 15%.
What do we want the conference to achieve?
The conference should reinforce the 바카라 사이트바카라 사이트™s progress in addressing PFM challenges and its priorities for future PFM reforms by:
- Welcoming and endorsing the Somali 바카라 사이트바카라 사이트™s progress to date, and its future commitment embodied in the Somali-owned and led PFM reform plan.
- Committing to align behind the 바카라 사이트바카라 사이트™s PFM reform plan provide co-ordinated and best practice support for its implementation;
- Committing to ensure funding for the implementation of the plan
- Committing to provide financing to support the 바카라 사이트바카라 사이트™s recurrent costs as the 바카라 사이트 expands its domestic revenue base and addresses other PFM challenges.
Further information
Visit the Somalia Conference 2013 website pages