World Bank projects Somalia's economy to grow by 3.8% by 2025

[Avalanche]

World Bank projects Somalia's economy to grow by 3.8% by 2025

Mogadishu (HOL) — Despite facing a prolonged drought from 2020 to 2023 and global economic shifts, Somalia's economy demonstrates resilience, according to the World Bank's 8th Somalia Economic Update. The drought, severely impacting agriculture and exports, led to significant migration as people...

www.hiiraan.com

 

[Burqad]

Anything less than 10 percent is unacceptable

 

[Nin123]

Oh I read it as 35% growth lol 3.5 is nothing

 

[Thegoodshepherd]

Somalia's population growth rate is ~2.9% a year. A GDP growth rate of 3.8% means a growth rate in per capita GDP of 0.9%. So even a good year is in reality a mediocre year. Somalia needs a sustained growth rate of ~6% to experience real changes in the consumption level of the average person.

Almost no money in Somalia is spent on capex by the various federal states or the federal gov.
China was spending 45% of its GDP on capex when it had Somalia's current per capita income.

 

[Dharbash]

World Bank projects Somalia's economy to grow by 3.8% by 2025

Mogadishu (HOL) — Despite facing a prolonged drought from 2020 to 2023 and global economic shifts, Somalia's economy demonstrates resilience, according to the World Bank's 8th Somalia Economic Update. The drought, severely impacting agriculture and exports, led to significant migration as people...

www.hiiraan.com

We’re so pathetic

 

[Pastoralist]

I expect this percentage to compound year on year.