Toward an Economic Recovery in Somalia

By Tres Thomas on May 4, 2013 • ( 3 )

Below is an excerpt of a report published by a Somalia Newsroom blogger on Sabahi Online. You can read the full analysis here.

Somalia’s first permanent government in 22 years faces significant obstacles in getting the nation’s economy back on track.

However, in comparison to the corruption rife in previous administrations, President Hassan Sheikh Mohamud’s government has so far garnered positive reviews inside and outside the country, and expectations are high that his administration is in a position to jumpstart the economy.

Hundreds of camels wait at the port of Mogadishu on March 8th for export to Saudi Arabia. The Somali government collects about $84 million annually in tax revenue from the port and other resources. [Mohamed Abdiwahab/AFP]

Hundreds of camels wait at the port of Mogadishu on March 8th for export to Saudi Arabia. [Mohamed Abdiwahab/AFP

If the government pursues innovative solutions in the telecommunications, agriculture and fishing industries, and reduces risks associated with tapping the country’s natural resources, Somalia’s economy could see a well-needed lift that would also be a boost for peace and development.

Continue reading here.