The World Bank’s projection of Somalia’s economic growth in 2023 has been cut down from 3.6% to a revised 2.8%. This is due to several reasons. However, the World Bank placed a huge emphasis on Somalia’s water system.
This information was relayed via the bank’s latest edition of Somalia Economic Update, as seen in the East African news publication, The East African.
As economic activity picks up, Somalia is expected to strengthen over the medium term, with growth estimated to progressively increase to 3.7% in 2024 and 3.9% in 2025.
Source: Business Insider
