Somaliland’s Minister of Finance Addresses Economic Challenges

In a recent meeting with members of the House of Representatives, Sa’ad Ali Shire, the Minister of Finance for Somaliland, provided a comprehensive overview of the nation’s current economic status and outlined the key priorities for the forthcoming annual budget.

Minister Shire underscored the significant setback faced by Somaliland’s commerce sector, primarily stemming from a recent devastating fire that engulfed Wajale’s main market, a critical driver of the country’s economic growth.

Minister Shire noted that the prevailing security situation in eastern Somaliland has further compounded the economic challenges facing the nation. However, he expressed satisfaction with the robust performance of the livestock and agricultural sectors throughout the year.

Regarding the government’s focus for the upcoming year, Sa’ad Ali Shire stressed the importance of allocating a substantial budget for national defense and the forthcoming elections.