Somali Federal Parliament Conducts First Reading of 2024 Financial Report

Members of both chambers of the Federal Parliament of Somalia convened today at the House of the People in Mogadishu for their second joint sitting of the seventh session, chaired by Sheikh Adan Mohamed Noor (Madobe), Speaker of the House of the People.

The session, which achieved quorum with 140 Members of Parliament from the Lower House and 27 Senators from the Upper House, focused on the first reading of Somalia’s 2024 financial report, covering the fiscal year ending December 31, 2024.

The Minister of Finance, Biihi Iimaan Ige, presented the report to the lawmakers, outlining the government’s key financial performance indicators, revenue collections, and expenditure trends for the year under review.

Since the session was limited to the first reading, no formal debate took place. However, several legislators raised preliminary questions regarding the fiscal principles, budget transparency, and accountability mechanisms highlighted in the report.

In his closing remarks, Speaker Sheikh Adan Madobe directed the Joint Parliamentary Committee on Finance to prepare the second reading report, which will open the floor for detailed parliamentary debate and deliberation in the coming weeks.

The review of the 2024 financial report marks an important step toward strengthening fiscal oversight and transparency within Somalia’s federal institutions, as the government continues its reform agenda aimed at improving public financial management and budgetary discipline across all ministries.