File Photo/Somali Times
Somalia’s Minister of Finance today chaired an annual meeting organized by the World Bank, and presented the information on the economy of Somalia (Economic Outlook).
The report stated that in 2021 the economy of Somalia increased by 2.9 percent, compared to the previous year in 2020. Underlined that the Federal Government of Somalia is committed to strengthening and developing the country’s economy in order to achieve substantial progress.
Read: Somalia’s president Hassan Sheikh history of corruption 2012-2017
Read: Somalia’s president Hassan Sheikh history of corruption 2012-2017
“Somalia’s economy has made progress and is improving despite internal and international challenges. We are committed to strengthening our financial reform program,” said the Finance Minister.
The World Bank’s annual report on the monitoring of Somalia’s economy, also noted that the severe drought in many parts of the country has affected the economy.
The representative of the World Bank in Somalia, Kristina Svensson, said that the government of Somalia has made progress in terms of internal revenue and changes in the reform of the country’s financial system.
Read: Somalia’s president Hassan Sheikh history of corruption 2012-2017
The President of the Federal Republic of Somalia, Hassan Sheikh Mohamoud, yesterday opened the international conference on investment in Somalia in Mogadishu.
President Mohamoud reported on the government’s plans to make Somalia suitable for investment, which he said is the basis for the eradication of terrorism, the development of laws and governance, the construction of economic infrastructure and inclusion in international markets and organizations. business.
“Although I came here to encourage investment in my country, I am aware of the challenges around us, first of all, terrorism, drought, the economic system in need of reform and youth unemployment, all these issues are parallel. ongoing efforts to solve and wide opportunities in the country.”