Tag Archives: Uweis Abdulllahi

The Economic Impacts of Covid-19 on Somalia

The COVID-19 pandemic disrupted Somalia’s economy though the country is expected to narrowly escape a recession owing to the limited number of infections and modest mitigation measures taken by the government. However, the country’s economic recovery is still at risk. Gross domestic product (GDP) growth is estimated to contract to 2.5% in 2020, down from 2.9% in the previous year, due to the pandemic and a number of associated issues such as declining remittances, reduced aggregate demand, disrupted supply chains and reductions in labor supply. The pandemic has also had an especially negative impact on the aviation sector, trade and fiscal revenue and moderately increased inflation in the first half of 2020.

Posted in Publications, Reports | Also tagged , , , | Leave a comment