Economics
IMF Sees Somalia's GDP Growth Accelerating to 3.5% in 2019
- Inflation in $7.48 billion economy expected to decelerate
- Horn of Africa economy been set back by violence since 1991
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The International Monetary Fund projects Somalia’s economy will expand by 3.5 percent this year and next year, compared with a forecast of 3.1 percent in 2018, as the Horn of Africa nation implements an economic program monitored by the lender.
“Somalia’s economy is recovering, but further efforts are needed to secure economic resilience and reduce poverty,” the Washington-based lender said Wednesday in an emailed statement. “Since 2017, growth has rebounded, inflation has slowed and the trade deficit has narrowed.”