Warbixinnada – Wasaaradda Horumarinta Maaliyadda

Quarterly Bulletin (PFM)

The President of the Republic of Somaliland His Excellency Muse Bihi Abdi has noted the key
achievements of the PFM reform program in his Annual address to the nation on February 18, 2020.
President Bihi highlighted how the undertaken reforms of the PFM program contribute to improved
financial management of the government of Somaliland.

Understanding the perceptions of taxpayers and traders in Hargeisa: perception survey reports 2018 and 2019

Two surveys were conducted to better understand the views of taxpayers and traders in Hargeisa on Somaliland’s tax and customs system in 2018 and 2019. The survey findings and recommendations will help the Ministry of Finance Development to better communicate reforms to citizens of Somaliland. The reports were produced by a team of researchers from the Busara Center for Behavioral Economics in coordination with the Ministry of Finance Development and the DFID Prosperity from Revenue programme.

Downloads:

Somalilands Private Sector at Crossroads (A Wold Bank Study of 2016):

This report was jointly produced by a team from the World Bank Group led by Peter Mousley and Jade Ndiaye from the Trade and Competitiveness Global Practice in the Africa Region, together with Joshua Wimpey and Mohammad Amin from the Enterprise Survey team in the World Bank’s Development Economics Group; Cari Votava and Marco Nicoli from the Finance and Markets Global Practice; Christian Eigen-Zucchi from the Development Economics Prospects Group and specialist consultants Kenneth Menkhaus and David Phillips.

Diagnostic Study for Somaliland Financial Sector (International Labor Organization, April 2013):

The study was commissioned by ILO to assist the Somaliland administration in developing a road map on how to develop and make the financial sector policy more inclusive and recommendations on how to provide financial services, while meeting the needs of the various actors; and development of a project document based on findings and opportunities for ILO and other development partners to assist in development of an inclusive financial sector ...

12 Drivers of Economic Growth in Somaliland-combined (November 2014):

Main Messages:

Somaliland socio-economic outcomes are lagging behind the region.
Improving these outcomes require multi-prong approach (as outlined mostly in the NDP).
The main drivers of economic growth will create jobs and have a dent on poverty.
At this stage of its development discourse, Somaliland cannot do it alone, it will need more FDI and ODA.

Labor Force Survey Somaliland (2012):

This report presents the main results of the Borama, Hargeisa & Burao Labour Force Survey (SLFS) 2012. The SLFS was designed to capture data on Borama, Hargeisa & Burao that would permit an analysis of key indicators of the country’s labour market. Up to the time of carrying out this survey, there has been lack of recent statistics on labour force indicators for Somaliland. Some of the other related recent surveys and sources of data such as: the World Bank Socio-Economic Survey 2002; the Food Security and Nutrition Analysis Unit (FSNAU) livelihoods assessments and surveys; Data from EU funded TVET programmes involving Save the Children and Diakonia; and Somaliland Facts and Figures – have only limited labour market data and information.

Overcoming Challenges in an Unrecognized Economy (Muktar Adan A. "Koshin", March 2017):

Despite Somaliland being the fourth poorest country in the world, Somaliland operates one of the lowest budgets of unrecognized states; it is unfortunate that 70% of its budget goes to the security sector while only 30% goes to the development programs (World Bank economic update of Somalia 2015).

According to Collier and Hoeffler (2005), most unrecognized states are low income countries, and the costs of non-recognition grow over time as their economies further decay, this is because the resources of unrecognized states are primarily focused on security which is generally characterized by a lack of public investment in critical sector which is the main vein of development like infrastructure and education.

Somaliland PKF Tax Guides

The Somaliland PKF Tax Guide 2016/2017 provides details about tax within Somaliland and contact details for local tax specialists in local PKF firms who will be able to provide taxation advice to help your business.