Vista Analyse gives advice to Somali authorities on revenue management from natural resources

Vista Analyse has handed over the report Description of work for Somalian Ministry of Finance, and some reflections on way forward to NORAD and to Somali federal government. The report has been written by Bjørnar Andreas Kvinge, Phil Swanson and Herman Ringdal from Vista Analyse and tax lawyer Svein Osvik from Osvik Consult.

The report includes a description of our work together with Somalia’s Ministry of Finance (MoF) and Somalia’s ministry of Petroleum and Mineral Resources (MoPMR).

In 2018 Vista Analyse was engaged by Norad and the Oil for Development programme to support the Federal Government of Somalia (FGS), especially the Ministry of Finance (MoF) and the Ministry of Petroleum and Mineral Resources (MoPMR) on preparations for future possible petroleum activities with the focus on revenue management. Revenue management includes everything from specific petroleum taxation, through forecasting petroleum activities, understanding petroleum revenues in relation to the rest of the economy and on government budgets. It also includes intertemporal decisions on saving, fund mechanisms and plans for a robust economy in the future. Capacity building has been our main task. The project was finalized this summer. Our work together with FGS has been an interesting task, and we have enjoyed coworking with professionals from the MoF and MoPMR.

Vista held an online workshop in June, where findings from a draft version of this report was presented. This report has been finalized based on inputs from the workshop.

We have appreciated our good cooperation together with the Somali Ministry of Finance and Ministry of Petroleum and Mineral Resources from 2018, and we wish them all the best in their efforts on working for a brighter future for Somalia.

The report is internal.