(19 Oct 2024) MOGADISHU (Halqabsi News) — The Somali government has announced notable progress in reducing poverty and boosting the economy, according to Mohamud Abdirahman Beenebeene, the Minister of Planning, Investment, and Economic Development. In an interview with national media, he highlighted the government’s achievements in these critical areas.
Minister Beenebeene stated that the latest government report indicates a 15 percent decrease in poverty levels, marking a substantial improvement from the previous rate of 69 percent. The current poverty rate stands at 54.4 percent, which he described as a collective success for both the government and the Somali people.
In addition to poverty reduction, the Minister noted a positive shift in the country’s economic performance. The Gross Domestic Product (GDP) growth rate has increased to 4.2 percent, up from 2.7 percent in the prior assessment.
Minister Beenebeene extended his gratitude to President Hassan Sheikh Mohamud and the federal government, led by Prime Minister Hamse Abdi Barre, for their roles in supporting the government’s strategic plans to improve the living standards of the Somali population.
Halqabsi News
