MOGADISHU - Somalia's Federal Minister of Planning, Investment and Economic Development, H.E. Mahmoud Abdirahman (Beene-beene), officially opened the second edition of Somalia's national economic forecast report at a ceremony held in Mogadishu on Tuesday.
The event marks a significant step in promoting transparency, evidence-based planning, and national ownership in the assessment of Somalia's economic realities. The report, jointly developed by all relevant government institutions, provides a comprehensive overview of the country's economic trajectory.
"The goal of this forecast is to produce a unified, realistic economic report that genuinely reflects the current state of Somalia's economy," said Minister Beene-beene during the opening remarks.
Minister Beene-beene emphasized that the document is free from exaggeration or political bias and openly identifies both the strengths and weaknesses of Somalia's economic landscape.
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"This is not a promotional piece," he noted. "It clearly outlines where we are doing well and where we are falling short. That honesty is crucial if we are to build a resilient and inclusive economy."
The Minister added that all federal agencies had input in the report, ensuring that it reflects shared data and consensus, which is essential for coordination across different sectors and institutions.
The economic forecast is expected to play a central role in guiding both government decision-making and development partner engagement, particularly as Somalia works to finalize key reforms and transition from debt relief under the Heavily Indebted Poor Countries (HIPC) Initiative.
The release of the report also comes amid growing optimism over Somalia's economic stabilization and reform progress, especially in public financial management, tax collection, and investment climate improvements.
However, Beene-beene cautioned that the report also highlights areas requiring urgent policy action, including unemployment, inflation control, and vulnerability to external shocks such as climate change and global commodity price fluctuations.
The Ministry of Planning has committed to publishing regular updates of the economic forecast, making it an annual fixture in Somalia's national development dialogue. The report will also be translated into Somali and disseminated among civil society and regional administrations to promote inclusive access to economic data.
This latest publication reaffirms the Somali government's commitment to data-driven governance, fostering accountability, and strengthening economic resilience. As Somalia continues its journey toward sustainable development and full reintegration into the global economy, such initiatives remain crucial.
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