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Somali National News Agency > Blog > Local News > Somalia’s Financial Renaissance: Ministry of Finance Confirms Positive Economic Trajectory
Local News

Somalia’s Financial Renaissance: Ministry of Finance Confirms Positive Economic Trajectory

By Abdiqani Abdullahi
Last updated: May 10, 2024
2 Min Read
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Mogadishu, Somalia – In a recent statement during the national media week, Suleiman Sheikh Omar, the Director General of the Ministry of Finance, highlighted the significant strides Somalia has made in its economic recovery. The government’s dedication to enhancing the economy and providing essential services to the community, particularly in financial infrastructure, has been a driving force behind this progress.

Under the guidance of the Ministry of Finance, pivotal economic legislation has been enacted, laying the groundwork for improved financial management across various sectors, including revenue collection, sales, contracts, land resources, and fisheries. These reforms are seen as key contributors to the nation’s burgeoning financial stability.

Expressing gratitude towards the international community, Director General Omar acknowledged the vital support from foreign governments and organizations that have played a role in Somalia’s resurgence. This collaborative effort has been instrumental in re-establishing Somalia’s presence on the global stage.

The tangible results of these initiatives are evident in the country’s economic growth. “We have undertaken significant work in the finance sector, and the positive impact of these efforts is reflected in the nation’s economic expansion,” stated Omar.

As Somalia continues on its path of economic reform, the commitment of its government and the support of the international community signal a hopeful future for the nation’s prosperity.

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