{"id":118999,"date":"2025-11-14T22:31:53","date_gmt":"2025-11-14T19:31:53","guid":{"rendered":"https:\/\/warsom.com\/wararka\/?p=118999"},"modified":"2025-11-14T23:28:45","modified_gmt":"2025-11-14T20:28:45","slug":"118999","status":"publish","type":"post","link":"https:\/\/warsom.com\/wararka\/2025\/11\/118999\/","title":{"rendered":"Somalia says decline in international financial support has affected economic growth"},"content":{"rendered":"

Somalia\u2019s Finance Minister, Bihi Imaan Cige, told CNBC Arabia in an interview that Somalia has made significant economic progress in recent years, despite new challenges stemming from a decline in development assistance from major donors.<\/p>\n

The minister said the country recorded a growth rate of 4% in 2024, but the forecast for 2025 has dropped to around 1%, which he attributed to a lack of external support, which has affected the pace of economic growth.<\/p>\n

Bihi Imaan Cige noted that the federal government is working on strengthening financial management, tax and institutional reforms, to increase domestic revenue, which he described as the backbone of long-term investment.<\/p>\n

He stressed that the country has made significant progress in digitizing and automating tax systems, which has led to an increase in domestic revenue of more than 80% in the past three years, despite starting from a low revenue base.<\/p>\n

The minister also said that the national budget has increased by 24% in 2024 and 2025, but there is still a great need for international financing, as domestic revenue has been increasing slowly each year.<\/p>\n

The government, he said, is focusing on expanding social spending, especially on education, health and social protection programs.<\/p>\n

He noted that domestic revenue allocated to education has increased from 3% to 10% in three years, indicating the government\u2019s increased capacity to fund development priorities.<\/p>\n

The Finance Minister also clarified that Somalia has adopted a targeted support approach, rather than using undifferentiated general aid.<\/p>\n

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Somalia\u2019s Finance Minister, Bihi Imaan Cige, told CNBC Arabia in an interview that Somalia has made significant economic progress in recent years, despite new challenges stemming from a decline in development assistance from major donors. The minister said the country recorded a growth rate of 4% in 2024, but the forecast for 2025 has dropped […]<\/p>\n","protected":false},"author":3,"featured_media":118997,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37,56],"tags":[],"class_list":["post-118999","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dhacdoyinka-caalamka","category-english"],"_links":{"self":[{"href":"https:\/\/warsom.com\/wararka\/wp-json\/wp\/v2\/posts\/118999","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/warsom.com\/wararka\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/warsom.com\/wararka\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/warsom.com\/wararka\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/warsom.com\/wararka\/wp-json\/wp\/v2\/comments?post=118999"}],"version-history":[{"count":3,"href":"https:\/\/warsom.com\/wararka\/wp-json\/wp\/v2\/posts\/118999\/revisions"}],"predecessor-version":[{"id":119020,"href":"https:\/\/warsom.com\/wararka\/wp-json\/wp\/v2\/posts\/118999\/revisions\/119020"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/warsom.com\/wararka\/wp-json\/wp\/v2\/media\/118997"}],"wp:attachment":[{"href":"https:\/\/warsom.com\/wararka\/wp-json\/wp\/v2\/media?parent=118999"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/warsom.com\/wararka\/wp-json\/wp\/v2\/categories?post=118999"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/warsom.com\/wararka\/wp-json\/wp\/v2\/tags?post=118999"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}