Somalis face a daunting developmentchallenge to overcome the legacy of two decades of sustainedconflict and fragility, but substantial progress is nowbeing made. Since 1991 and the collapse of the Siad Barreregime, Somalia has experienced cycles of conflict andfragility that fragmented the country, undermined legitimateinstitutions, and created widespread vulnerability. The newgovernment that emerged following the Transitional FederalGovernment and the Roadmap to End the Transition in 2012inherited a dysfunctional economy facing high levels ofpoverty and inequality, a youth bulge, high unemployment,and large infrastructure gaps. Against a backdrop ofpolitical progress marked by the emergence of new FederalMember States (FMSs) within the new constitutional frameworkand continued insecurity, the Federal Government of Somalia(FGS) has embarked on a process of structural, legislative,and institutional reform. The economy is starting torespond: Somalis are returning from abroad to invest, shopsare opening, and the property market is booming. This is thefirst economic update for Somalia since the 2005 World Bankcountry economic memorandum for Somalia. The long conflictmade monitoring of economic and social data nearlyimpossible since the late 1980s. With the relative stabilityof the past few years, new data have become available. Theupdate is divided into two parts. Part one presentsinformation on the social, economic, and governance statusof Somalia. Part two focuses on intergovernmental fiscal relations.
PDF
download
878987797
028-85220240
