Republic of Somaliland|Ministry of Finance & Economic Development
Annual budget preparation and submission timeline for the Ministry of Finance & Economic Development
Key milestones and deadlines for the annual budget cycle
| Document | Description | Date |
|---|---|---|
Budget outlook paper received by Budget Policy Committee (BPC) for review | Provides information and analysis of Somaliland's Economic Outlook and Major National Issues. | 15th May |
Expenditure Priorities | Government Expenditure Priorities selected by BPC in line with NDP2 (NDP2/Manifesto outcomes). | 30th May |
Macroeconomic and Fiscal Framework (MFF) | Estimate of total government revenue and expenditure for the coming three years, Macroeconomic policy and forecast of macroeconomic Variables (2.1, 4.1, 4.2). | 30th June |
Budget Framework (BF) | Recurrent expenditure ceiling for the coming year (Sections 1.1, 1.2, 4.3). | 30th June |
MFF and BF submitted to Cabinet and HoR by the Minister of Finance | Minister of finance submits Macroeconomic and fiscal Framework and Budget framework to Cabinet and HoR for review (Section 5.3). | 30th June |
Budget Circular and Guidelines | Statement of government priorities, economic situation and new budget process circulated to all MDAs by the Minister of Finance (Section 4.6). | 31st July |
HoR feedback | Budget Recommendations sent to the minister based on Review of MFF and BF (Section 6.4). | 15th August |
Budget Submission | Each public body states the amount of funding they request with sectoral limits and details of the policy they plan to implement with public funds (Section 5.1). | 31st August |
Budget Negotiations between MDAs and MoF | Expenditure estimates in MTBF are used to guide negotiations with MDAs. | 1st September |
Minister submits Annual Budget to the Council of Ministers | Council of Ministers debates and votes to approve the Budget. | 29th September |
The Budget (Finance Bill) | The Minister of Finance submits expenditure Votes for approval by House of Representatives and presents an update on the Somaliland Economy (7.1 7.2, 7.3, 7.4, 7.5). | 1st October |
