Somalilandsun: The Somaliland Public Finance Management-Program aims. to achieve the highest possible efficiency, transparency, and accountability in the allocation, management and use of public finances to meet the Government’s development and economic growth priorities.
To achieve the highest possible efficiency, transparency and accountability in the allocation, management and use of public finances to meet Somaliland’s economic and development priorities and commitments under the NDPII and Vision 2030
To Coordinate and harmonize the public financial management reforms to strengthen public finance management systems, enhance the effectiveness, efficiency and improve transparency and accountability in the use and management of public funds
The broad objective of the PFM reform Program is to achieve overall fiscal discipline, allocation of resources to priority needs, efficient and effective delivery of public services. A solid and strong PFM system is a tool to minimize fiscal waste and support the effective and efficient use of taxpayers’ money. Without proper management of public funds, the macroeconomy will be negatively affected. Weak PFM means that scarce resources are wasted through poor allocations and inefficient management. Corruption also thrives where PFM is weak and limits possibilities for growth.
The PFM Reform Strategy identifies the priorities for reform, provides a structured and sequenced framework to carry out specific reform activities, guides the mobilization of resources, and sets parameters for improving coordination as well as sustainability of the reforms aimed at strengthening the PFM systems.
Read more about the Somaliland PFM Program HERE