Somalia Remains on Track for Economic Growth Despite Global Challenges: Finance Minister

Mogadishu(SONNA)-Minister of Finance of the Federal Government of Somalia, H.E. Bihi Iman Egeh, has welcomed the International Monetary Fund’s (IMF) report on the outcome of the fourth review consultations, which concluded last week in Nairobi, Kenya.

Minister Egeh said the progress made in fiscal reforms and the government’s efforts to maintain economic stability demonstrate that Somalia remains on the right track, despite domestic and international economic challenges facing the country.

“We are pleased that our efforts to advance fiscal reforms are beginning to bear fruit. Somalia remains on track to achieve economic growth of 2.3 percent in 2026 and 2.7 percent in 2027, despite major global challenges affecting the economy,” the minister said.

He reaffirmed the government’s commitment to prioritizing economic stability, with a focus on accelerating domestic revenue mobilization, maintaining spending priorities, strengthening public financial and debt management, and improving oversight and participation in financial services.

The minister’s remarks come as Somalia continues to implement economic and fiscal reforms aimed at strengthening public finances, supporting sustainable growth and building greater resilience against global and domestic economic pressures.