International monitoring fund IMF has praised the Somali government financial statement and economic recovery. This came year ago after the Somali finance ministry and national finance committee has presented proposal to reduce Somali fiscal budget for the next years which was over two hundred millions to one hundred million.
National finance team has presented national local income from the taxes and funds from the Somali institutions. They have proposed the reduction of the national fiscal which was based with external donors payments that is not supposed to be received from donors and international agencies
IMF top executive meeting welcome good financial statement from the Somali government which is moving from the dependence of external donors to their national income from the local tax payment and national sources
IMF has also said they are preparing technical capacity building for the Somali financial ministry and team to insure national expense movements and payment procedures. And the coordination of the international and local Somali remittance where there has been problems the last year and we hope to organize the formulation of international system that can enable them access international bank.
This came in time Somalia has received large fund from the international community the New Deal 2016 goal that seems unreachable with corruption and financial mismanagement and theft large money from the national bank and money laundering scamps.
Most Somali people say the new deal has ended up corrupt which is not finances and invested in the country particularly the ratio of the civil services
