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Somaliland: Minister of Finance reports on how COVID -19 impacted the economy

Hargeisa (SD) – Minister of Finance of the Republic of Somaliland Dr. Saad Ali Shire, gave details on the impact of Coronavirus on the country’s economy.

Somaliland Minister of Finance and Development Dr. Saad Ali Shire, who spoke to the media in Hargeisa, detailed the preparation of next year’s national budget, saying it should be ready by the end of the year.

He pointed out that this year’s budget estimates have been significantly impacted by the Coronavirus, the cancellation of this year’s Hajj, the decline livestock exports and locusts have hit the country’s harvest.

Minister Dr. Saad Ali Shire, noted that the combination of these factors has led to a decline in government revenue and the country’s economy as a whole, adding that the economic situation is improving compared to the first six months of this year.

On the other hand, Dr. Saad Ali Shire, said that they are now preparing next year’s budget and that the government is putting a lot of efforts in mitigating the COVID-19 losses.

He noted that the expected international assistance to Somaliland had not been met with the exception of a limited supply of medicines and equipment, but that the country’s business community had played a key role in dealing with the disease.

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