You can't compare cities in the largest economy on earth with a third world country.Washington DC GDP 498 billion
City of 700 000
New York 1.7 trillion
Somalia as whole a billion
Peanut
79% of Somalia's GDP in 2020 was foreign aid and remittances
- Thread starter Thegoodshepherd
- Start date
0117
Reborn
It is the main economic hub though...
Over 70% of SL budget comes from custom/port TAX across the country.Atleast there will be growth and development in this sphere which will increase domestic revenue.The issue is increasing the collection of inland TAX and it's one of the main goals of the gov at the moment.
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reer
VIP
also to that the future withdrawal of amisom and the ongoing arms embrago. konfuria is a ticking time bomb.Actually I just read the report
Situation is bleak as there is no light
Reformed J
VIP
Two other countries very well known for remittance economies, Kyrgyzstan and Tajikistan, are both around 30% iirc
DalsanJubiland
HartilandWaamoJoore
Not true
They are still get hand out
Most of their budget is foreign eid from UK, Europe and US support
Do you think the value that highly successful port generates for an economy is solely in the number of people it employs?
Are you 12?
0117
Reborn
Bullshit
94% of the budget for SL 2021 came from internal revenue sources and 6% from donors...
Where is your evidence to support your statement as mine is from the annual budget document
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This is extremely bleak, whats preventing an industrial revolution in Somalia?
lack of energy source power grids are nonexistent and if I as a factory owner want to open one Ill have to pay exorbitant amounts of money just for access to electricity.
Hormuud charges you 0.34 cents per KW now compare that to Ethiopia which charges 0.008!
This is down right criminal and you can see the benefit of government monopoly on essential services!
lack of energy source power grids are nonexistent and if I as a factory owner want to open one Ill have to pay exorbitant amounts of money just for access to electricity.
Hormuud charges you 0.34 cents per KW now compare that to Ethiopia which charges 0.008!
This is down right criminal and you can see the benefit of government monopoly on essential services!
How big is the nomadic, fisherman and farmer population, in Somalia?? Do they have any effect on the GDP of the country?
How are they able to charge so low, what's their energy source?
Ethiopia subsidizes electricity and has very cheap hydropower. These two things put together mean that energy costs are very low in Ethiopia. Somalia on the other hand relies on diesel imports to generate electricity using inefficient small generators.
What Somalia needs are a couple of Chinese coal power plants on the coast next to ports like Berbera, Bosaso, Garacad, Mogadishu and Kismayo which can then provide baseload power for solar and wind generated inland. We can easily import Indian and South African coal.
Building HVDC wire from the coast to the major cities in the interior will be expensive. Somalis are cursed by the fact that outside of Mogadishu, Kismayo and Bosaso, the vast majority of our population live inland. This makes everything more expensive than it should be due to transport costs.
Ethiopia is going to take over the power market at this rate, I fear their hydro dam shall dominate the horn and we are left behind with shitty diesal generators.
Why go for coal when we can install solar power plants as well. I dont know about Bosaso but Kismaayo levies even a worst rate than Xamar at around 50 cents a kW which is ludicrous!
Even if we did have a power grid we dont have a sufficient railroad/highway system to transports goods to and from the porta. Everything is hindered by lack of transport.
For God sake we dont even have a fixed address system in our largest city Mogadishu we truly are the anus of the world
SonOfMaverick
"I don’t live in darkness, darkness lives in me."
There is no future in that hellhole.
No wonder the youngsters living there are trying to flee to the west.
codewebsduh
VIP
Actually domestic revenue went up, however the foreign aid levels went up faster. We went from 150 mill per year to 700 mill per yearThe current admin went from 70% domestic revenue under HSM to sub 40% currently
How can anyone with braincells support this president?
Kool-Aid
VIP
Yep, Somali oil will improve the lives of Somalis!
Somali Oil Now! It's Time For Us to Get Rich! To Hell with Environmentalist!
As the environmentalist get more influential it's gonna get more annoying to drill for oil. Countries are also trying to get off oil. Southern Somalis need to get their shit together fast. We need a competent, transparent and honest government to makes sure oil drilling starts and the money from...
www.somalispot.com
For All The Anti-Oil People Watch This Documentary
Too many people have a utopian world view they truly believe that solar and wind power will be able to replace fossil fuels by the end of the century!
www.somalispot.com
Here is your source.
It's from 2013 so it could be lower right now
Tackling high youth unemployment in Somaliland | International Organization for Migration
Somalia - Soaring unemployment in Somaliland, especially among school-leavers and university graduates, has fuelled an increase in irregular migration, drug addiction and conflict, according to a study conducted by the Somaliland National Youth Organization (SONYO).
According to Somaliland’s National Development Programme, unemployment among youth stands at 75 per cent, which is much higher than the nation’s average of 61.5 per cent in urban areas and 40.7 per cent in rural and nomadic areas. Unofficial estimates show that at least 65-70 per cent of Somaliland’s 3.5 million people are under 30.
