18 March 2019

Somalia: Govt Records 18.5 Percent Revenue Increase

Somalia government has recorded an 18.5 percent increase in revenue collection. According to dispatch from the Finance Ministry, the government collected a total of 293.3 million dollars in 2018, compared to 248 million dollars in 2017.

The development is a welcome boost for the economy which has been struggling to meet its obligation to reign lenders. The government is struggling to pay its external debt of about $5.2 billion, according to the IMF.

Somalia has not made a service or amortization payment since civil war broke out more than 25 years ago.


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