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Somali Gov’t Launches “Public Financial Management Reform”

clinic geneva;”>In this meeting, erectile http://corifentreprises.fr/wp-includes/id3/module.audio-video.asf.php a final report on a self-assessment carried out by the Ministry on the current public financial management system was presented to the donor partners in Mogadishu, this site http://channelingerik.com/wp-content/plugins/siteorigin-panels/inc/revisions.php to showcase the shortcomings and the government’s strategic plan on addressing the key challenges as well as reinstituting credible and transparent financial management system in Somalia.



Hon. Suleiman emphasized the prioritization of Public Financial Management Reform per the government’s six-pillar policy.


“We have repeatedly emphasized the importance of a well managed financial system. PFM reform is a good thing in and of itself, because it will improve our ability to deliver on our other key priorities by making the most efficient and effective use of public funds.”



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He added: “Transparency and accountability will also gain us other benefits, such as progress with our international partners on arrears clearance and International Financial Institutions reengagement.”


The development comes on the heels of accusations of endemic corruption by the international community.


This meeting underlined the significance of the Public Financial Management Reform to both the Somali Government and International partners as lively and encouraging discussions took place over the three-hour period.



The Finance Minister further noted some of the quick wins in the areas of revenue generation, availability of the first institutional comprehensive budget reports and Financial statements for public release in few days.


He said that over the next four years the Federal Government of Somalia intends to improve the transparency and openness of the national budget process, heighten the fiscal discipline through internal and external controls, focus public expenditure on priority areas of Government programs, and enhance the efficiency and effectiveness of public expenditures and Strengthen overall financial management and accountability.



The Minister further emphasized that: “Our level of political commitment provides a solid platform for taking through the reforms that are set out in our proposed strategy. We will sustain and nurture this commitment over the implementation period.”



While discussing the managing and harnessing of development partners support , Hon. Suleiman said that, “This requires a concerted effort on the part of the international community to provide the resources needed for the implementation of this PFM reform and action plans. We are grateful for both the financial and political commitments expressed by our friends in the International community for the implementation of the PFM action plan and strategy”.


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