Signs of recovery in Somalian economy

Somalia is slowly re-entering
the global economy, and could
provide a market for South
African exporters willing to
take the risk.
According to the
International Monetary Fund
(IMF), the Somali economy
grew by 3.7% in 2014, driven
by agriculture, construction,
and telecommunications.
Growth for 2015 is projected
to be around 2.7%, with
inflation at around 4%.
Medium-term growth is
expected to be around 5%.
In a statement issued after
an Article IV Consultation with
Somalia, the head of the IMF
team, Rogerio Zandamela,
said “even though the political
and security situations remain
challenging, Somalia has made
tremendous progress since
resuming relations with the
IMF in 2013”.