The ministry of finance of the state of Jubbaland has been established on the 30th April 2014 as one of the first Eight Ministries immediately established after declaration of the Jubbaland government.
The Ministry of Finance is to regulate the Public and Private Financial Management of the State and to ensure the healthily fluency of the State official Currency. The Ministry prepares the Government’s economic and financial policy as well as the Budget, and acts as a tax policy expert.
The Ministry of Finance Structure its executive board has three broad purposes, leadership, performance and accountability. The board also leads and models behaviors and values that will ensure the organization’s success.
The Ministry of Finance, having consulted the responsible Federal Government of Somalia and Regional spending authorities, shall make recommendations to the [Council of Ministers] concerning:
- Formulation of an overall fiscal strategy for the JSS Consolidated Budget, in the light of macroeconomic conditions and the effect that fiscal policy may have on economic conditions.
- Development of a public revenue and expenditure program for the JSS Consolidated Budget and formulation of plans for the control and execution of spending under that revenue and expenditure program.
- Controlling and executing the raising of revenues and spending under the JSS Consolidated Budget.
- Safeguarding the cash assets and managing bank accounts of the JSS Consolidated Fund.
- Develop the JSS Consolidated Budget and present this budget to the [Council of Ministers] for approval and adoption by [Decree] by the JSS.
- Arrange for the establishment of an information technology environment to support the financial management information system and functions; and,
- Perform any other functions necessary for the above mentioned activities.