For Somali economy, it is absolutely necessary to efficiently manage and use the human and natural resources which God has given to the nation, to foster and maintain a positive rate of economic growth, reduce the poverty and lessen the reliance on international donors’ assistance. The Government recognizes achieving these goals require a series of policy and a concerted national efforts to encourage and carry out development and expansion of agriculture, livestock, fisheries, mining, infrastructure that facilitate development, especially transportation with different modes, marketing and productive sectors production related and inputs using manufacturing industries, with particular emphasis on value-chain activities and industries in which Somalia enjoys a comparative advantages.
The government of Somalia will encourage and promote the development and expansion of the private sector’s role and participation, in all above activities and sectors, through providing and creating the necessary laws and regulations, policies, facilities and conducive environment and right incentives.
The principal objective of this paper is to analyse actual macroeconomic and fiscal characteristics and setting of the Somali economy, and to establish realistic and consistent medium term macroeconomic and fiscal framework and outlook for the years 2017-2019 which are the time span for the recently completed Somali National Development Plan (SNDP). Such macroeconomic and fiscal framework and outlook, has been quantitatively achieved, through formulating and empirically articulated an aggregated macro-fiscal analytical modelling approach.
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Dr. Hashim Al-Ali-Macroeconomic and Fiscal Framework for Somalia_IEN final formating