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

[Deeq A.]

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 sought food and water. This situation resulted in a decline in GDP growth to 2.4% in 2022, down from 3.3% the previous year.

Source: Hiiraan Online