Somaliland ministry of finance development has implemented radical forms and changes that end result radical improvements, better performance, better outcome, better resources, better results, better outlook, smart skills, productive efficiency, effective seeds, dedicated goals, desired ambitions, cost effective measures, organized systematic strategy, sound accounting principles, proper analyzing data, thriving financial reporting and right quantitative analysis. The ministry has taken reforms that imply changes to the way the ministry works have improved the quality of public services as these reforms have heavily improved the efficiency of the ministry and raised the government revenue that facilitated to inject capital to run Somaliland government effectively. These reforms have turn out concrete positive results that increased the professionalism in every sector of the ministry that generated team spirit among members of ministry employees. Reforms mean to correct what was gone wrong earlier. It means to improve the system. As creative man is motivated by the desire, the ministry has engineered fruitful creativity that end result an increase of ministry productivity as the world’s greatest achievers have been those who have always stayed focused on their goals. These reforms tackled obstacles to the fundamental drivers of economic growth thereby improving productivity and designed to boost an economic potential growth of Somaliland.
The reforms has encouraged innovation and improved the quality of public taxation system in Somaliland. The changes and reforms seem key improving Somaliland economy. The ministry has developed effective work performances and new skills that increased Somaliland resources. The reforms have generated fresh start, fresh beginning that involves new era of leadership. New administration with fresh energy, new administration that injected fresh energy to the efficiency of the ministry, new era that generates visible variable achievement, new era of productivity and new administration that injected efficiency, effectiveness and productivity to the ministry. The ministry of finance development has focused delivering timely services, efficient work, reliable services, developing the government’s accounting policy, designing, implementing, maintaining, corporate financial management systems, providing financial analysis, providing leadership and coordination for fiscal and economic policies, developing the government’s tax policy, programs, collecting taxes, other revenues and managing the investment. The ministry provides elevated quality and responsive service to all government ministries and associated agencies in view of an efficient and effective manner that sourced smooth operation for various government minsters.
The ministry did not waste any energy to make Somaliland better place. Accomplishment connected with action and dream becomes a goal when action is taken toward its achievement and success results from work realizing ambition. The Minister of Finance development is accountable ensuring that his responsibilities are fulfilled both within the ministry and with respect to the authorities assigned through finance regulation. In line with government policies.. The positive vision of the ministry has developed positive results. A dream becomes a goal when action is taken toward its achievement. Nothing is impossible; the word itself says ‘I’m possible, Audrey Hepburn. The difference between impossible and possible lies in a man’s determination, Tommy Lasorda. Every noble work seems first impossible, but nothing is impossible as there are ways that lead to everything, and if we had sufficient will we should always have sufficient means. We would accomplish many more things if we did not think of them as impossible, Vince Lombardi.
The beginning is the most important part of the work, Plato. Each day is a new beginning. Every single day is an opportunity for you to start anew. A fresh start new day, new month and New Year. Every day we have an opportunity to make ourselves into whatever we want to be. Each day is a new day new opportunity. The past cannot be changed, but we can navigate our future. Thanks to the implementation of reforms, changes and effective efficiency the ministry of finance development has employed since Somaliland current government has come into office. Somaliland economy is gaining momentum. Thanks to the implementation of several recent noteworthy policies that contributed raising Somaliland revenue without tax increase for the essential commodities like food.. The reforms are in line with directives of Somaliland president, Muse Bihi and Somaliland vision 2030. The reforms the ministry has undertaken designed to ensure the economy growth. These comprehensive reforms have generated new spirit to daily activity of the ministry.
Taken into account, the success the reforms have generated, the same has boosted the performance for each and every department of the ministry as these reforms have seen as a key ingredient to improve the productivity of the ministry. Dreams are the seeds of change. Nothing ever grows without a seed, and nothing ever changes without a dream. Debby Boone. The most important single ingredient in the formula of success knows how to get along with people. Nothing can stop the man with the right idea achieving his goal. Winning means you’re doing better than you’ve ever done before. The ministry has combined hard work plus smart work which end result efficient work. These combinations have produced an output success. The main responsibility of the ministry is to source the revenue required for the government expenditures and to generate more revenue in the form of taxes to facilitate economic growth. Government expenditure is an important instrument for Somaliland economic growth. The Ministry of Finance development is charged with the responsibility for government expenditure and raising revenue.
The ministry plays the role developing economic policy and prepare Somaliland budget. The Ministry oversees financial regulation. Each year, the ministry of Finance development presents Somaliland budget to the Parliament to sanction on October as a standard policy. Commonly, budget has one rule which mean do not exceeds over budget limit. Budgets are blueprints and priorities. A budget is telling your money where to go instead of wondering where it went, Dave Ramsey. The minister of Finance administer economic policy: fiscal policy is within the Minister’s direct responsibility. The Ministry of Finance is responsible for issues concerning central government finances, the budget, forecasts and analyses, tax issues, and management of government activities. The Ministry of Finance development propose economic, financial policy, and coordinate and supervise these actions as empowered by law as law is very important in the society. The Ministry of Finance development is at the heart of Somaliland economic and fiscal policy development. It is an executive body which formulates and implement an effective policy of public finance in order to ensure Somaliland macroeconomic stability and economic development.
As the function of human blood vessels is to transport and inject blood around the human body, likewise, Somaliland ministry of finance development has pumped capital to every Somaliland government ministry and independent agencies promptly to function resourcefully effectively in line with its objectives. This economic growth is because the vision and the mission of the ministry go hand in hand with the vision of Somaliland president, Muse Bihi, the party manifesto and Somaliland vision 2030. Setting goals allows organizations to paint a vision of what you wish your future to be. The ministry has developed shared vision through empowering all employees to create a common single image of the future for the ministry. Somaliland economic looking bright as the country is experiencing unprecedented revenue increase in view of remarkable performance by Somaliland of finance development. Somaliland economy is picking up and as a result the country’s growth prospects look bright. Ministry of Finance develops its mandate from the Constitution of Somaliland, which provides for appropriate budgetary and expenditure management of government financial resources. The ministry come with government budget that works our resources. Effective functioning financial management being possible through a number of principles that are closely related to the goals and objectives and skilled financial management is critical for putting plans into practice.
he finance ministry has engaged effective financial management which is the heart of running a successful ministry since financial management effects managing cash flow, financial guidelines, tracking performances, financial planning, implementation of financial policies and evaluation progress.. The ministry maintains consolidated government’s financial stability through sound financial and management practices. The ministry plays a fundamental role in development of the government by providing sound finance management. The ministry has committed to the highest standards of accountability, accuracy, timeliness, professionalism and innovation in providing financial services. Finance ministry aims four (4) goal-oriented cost centers to achieve the ministry mission. Finance administration, accounting, financial planning and generating revenue. Finance development ministry also responsible for all financial records and transactions including general ledgers, payroll, accounts payable, investments. The current ministry has complied a set of ground rules to administer the ministry effectively which mean comply basic guidelines or of procedural conduct. In general any given task has its own ground rules to execute. The ministry high performing employees deliver outstanding results consistently.
The ministry has built build foundation of mutual trust and respect, an understanding and team spirit among members of the ministry in an alignment on a common purpose. The ministry rapidly react with changes in order to stay competitive. The main responsibility of the ministry is to source the revenue required for the government expenditures and to generate more revenue in the form of taxes to facilitate economic growth. Government expenditure is an important instrument for Somaliland economic growth. The ministry plays the role developing economic policy and prepare Somaliland budget. The minister of Finance administer economic policy: fiscal policy is within the Minister’s direct responsibility. The ministry of Finance development pursues the highest level of professionalism based on the current economic situation and the key objective is to increase the long-term coordination of operational and financial planning. As success starts from the mind, Somaliland finance development ministry employees has attained success through hard work and anything gained through hard work will be retained long.