Somalia

Years of conflict and fragility have left Somalia’s economy with a range of challenges, including population growth outstripping economic growth, acute poverty and vulnerability, recurrent external trade and climate shocks. Weak fiscal space and institutions, active insurgency and an incomplete political settlement have also affected the country’s economic strength. Somalia also has several opportunities, as the economy is transitioning from traditional, rural pastoralism to urban, trade and services. Somalia’s economy has remained resilient and is realizing moderate growth despite recurrent shocks and crises, including drought and insecurity (World Bank, 2020).