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FinancialNews


  • 03-08-19

    GDP growth in Somalia projected at 2.9 percent

    (MENAFN) Somalia is forecast for stability in its gross domestic product (GDP) growth for this year, only if normal rains continued to be witnessed.

    GDP growth in Somalia is projected at 2.9 percent to see no change, the International Monetary Fund (IMF) forecasts.

    Economic activity in Somalia is also expected by the IMF to be backed by better confidence, constant reform execution, as well as growing donor support.

    "Despite stronger growth and the improving fiscal position, per capita incomes remain very low and more resources are needed to achieve greater economic resilience and reduce poverty," the IMF emphasized.

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