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FinancialNews


  • 07-09-19

    Somali economic recovery steady: WB

    (MENAFN) Somalia has been enjoying a stead and sustained economic growth progress amid attempts to achieve a rebound, as affirmed the World Bank (WB).

    Economic growth in Somalia hit a surge by around 2.8 percent last year, from the 1.4 percent economic growth recorded a year earlier, the World Bank pointed out in its update on Somalia.

    These figures were registered after Somalia witnessed a modest recovery within its agriculture sector following an impact from the 2016-17 drought.

    WB stated "while this progress is encouraging, the available fiscal space remains insufficient to meet expenditure needs education and health sectors."

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