Somalia sees annual economic growth of over 25% amid crisis – PM

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KISMAYO, Somalia – The Prime Minister of Somalia, Hamsa Abdi Barre participated in a town hall, a public forum organized by the Jubba Valley Institute in Kismayo last night.

 

The Prime Minister took questions from the audience about the political situation, the economy, the security of Somalia, the war on Al-Shabaab, flood relief, and other issues.

Barre noted that his government is dealing with a handful of crises, among them the current devastating floods. He named a committee led by Deputy PM Salah Ahmed Jama.

On the economic front, the PM said the domestic income has increased by 25% and the government is proud of the revenue growth that will lead Somalia to complete debt relief.

The Government has put effort into stabilizing the security of the capital and realizing of the joining the East African Community, which is an opportunity for Somali businessmen.

The Prime Minister pointed out the importance of the country to finalize the constitution, eliminate Al-Shabaab, and develop the country’s economy to achieve prosperity and peace.

Last month, The Council of Ministers of the Federal Republic of Somalia approved the government budget for the fiscal year 2024 in the amount of $1,025,687,991 (One billion and twenty-five million dollars).

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