IMF releases good news for Somalia

[Odayga_Jabuuti]

IMF just updated it's statistics for 2022.
It classified Somalia as being the 53rd richest country in Africa (out of 54 countries in Africa so basically second poorest in the continent) in 2020.
But it was ranked 52nd in 2021.
And 50th in 2022, outpacing Madagascar and Central Africa in terms of GDP per capita.
Somalia is slowly climbing the African ladder without government.

 

[Rocktheboat]

And where is Jabooty?

 

[Odayga_Jabuuti]

13th according to the same sources
GDP per capita isn't necesarily the best tool to measure wealth, but it kinda gives you an idea.

 

[Mount23]

Who cares what that Zionist Yahuudi organization says, they are a curse to this world

 

[Boujie]

IMF just updated it's statistics for 2022.
It classified Somalia as being the 53rd richest country in Africa (out of 54 countries in Africa so basically second poorest in the continent) in 2020.
But it was ranked 52nd in 2021.
And 50th in 2022, outpacing Madagascar and Central Africa in terms of GDP per capita.
Somalia is slowly climbing the African ladder without government.

we aren't going up, others are going down

 

[Waaqmasho]

IMF just updated it's statistics for 2022.
It classified Somalia as being the 53rd richest country in Africa (out of 54 countries in Africa so basically second poorest in the continent) in 2020.
But it was ranked 52nd in 2021.
And 50th in 2022, outpacing Madagascar and Central Africa in terms of GDP per capita.
Somalia is slowly climbing the African ladder without government.

Somalia is of course getting better. They are also relying less and less on foreign aid. Previously 80% of government budget came from foreign aid in 2016. Now only 40% comes from foreign aid. And the overall budget increased without foreign aid increasing so that's a win.

Plus having proper laws, financial transparency and less corruption somalia was successful in debt relief. The will have 0 debts in 2022 if the next government continues what this government does. So it's a win.

 

[Nomadic lord]

There is hope for Somalia

 

[Aurelian]

 

[Based]

That cant be true. Somalia is poor but not that poor

 

[0117]

Somalia is of course getting better. They are also relying less and less on foreign aid. Previously 80% of government budget came from foreign aid in 2016. Now only 40% comes from foreign aid. And the overall budget increased without foreign aid increasing so that's a win.

Plus having proper laws, financial transparency and less corruption somalia was successful in debt relief. The will have 0 debts in 2022 if the next government continues what this government does. So it's a win.

Bring your source

You've never read Somalia budget book to make such claims

 

[reer]

Bring your source

somalia is a hellhole banana republic. "progress" built on amisom government is the same as "progress" under the former afghan government. quicksand.

 

[Waaqmasho]

Bring your source

You've never read Somalia budget book to make such claims

Which claims do you mean? Do you mean the budget increase and less reliant on foreign aid or do you mean the increased financial transparency which got us to this stage in the debt relief process?

You can read the budget info from mof website. Here. Download the latest budget and you can see for yourself. https://mof.gov.so/so/publications/xeerka-miisaaniyadda-2022-loo-gudbiyey-golaha-wasiirada

 

[0117]

Which claims do you mean? Do you mean the budget increase and less reliant on foreign aid or do you mean the increased financial transparency which got us to this stage in the debt relief process?

You can read the budget info from mof website. Here. Download the latest budget and you can see for yourself. https://mof.gov.so/so/publications/xeerka-miisaaniyadda-2022-loo-gudbiyey-golaha-wasiirada

yh you haven't read the budget book

How is it less reliant on Donor AID when Donor AID will be projected to increase

SOMALIA 2022 BUDGET

Now let's look at the actual figures from 2021 that were recently published

BUDGETED DOMESTIC REVENUE was $269.71M but the ACTUAL DOMESTIC REVENUE collected was $229.56M which is only 85% of the target budget.
BUDGETED DONOR/GRANTS REVENUE WAS $410.80m but the ACTUAL DONOR/GRANT collected was $146.98 which is only 35.8% of the target budget.

SOURCE :

https://mof.gov.so/sites/default/files/Publications/2021%20End-Year%20Budget%20Performance%20Report%20%20PDF_1.pdf

The reason for this drop in donor revenue isn't because Somalia is doing well but rather the opposite due to elections as a result the international community have withheld its money and also local agencies are slow with the projects.

Somalia can't even cover the wages and salaries to run the government with its domestic revenue and you're out here painting a rosy picture

 

[Odayga_Jabuuti]

Bring your source

You've never read Somalia budget book to make such claims

Sources: https://www.imf.org/external/datamapper/profile/SOM
Compare to other african countries (GDP per capita), 4 are behind Somalia, 49 are ahead. Which make Somalia 50th.
I know that many economic tools are needed to properly evaluate the wealth of a country but it's still a solid one (it's the most used one), but overall the country is getting better every year.
However, growth doesn't mean everything the country is soo poor that it would need decades to even reach the average african country.

 

[0117]

Sources: https://www.imf.org/external/datamapper/profile/SOM
Compare to other african countries (GDP per capita), 4 are behind Somalia, 49 are ahead. Which make Somalia 50th.
I know that many economic tools are needed to properly evaluate the wealth of a country but it's still a solid one (it's the most used one), but overall the country is getting better every year.
However, growth doesn't mean everything the country is soo poor that it would need decades to even reach the average african country.

Sorry bro it was directed at you.

Somalia data isn't really studied in depth and I'm sure the numbers are much higher. A society where the citizens thrived got this far imagine when there is a proper government in place

 

[Basra]

 

[0117]

Sorry bro it was directed at you.

Somalia data isn't really studied in depth and I'm sure the numbers are much higher. A society where the citizens thrived got this far imagine when there is a proper government in place

*wasn't