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Somali National Bureau of Statistics ( NBS) Says Somalia’s GDP Grew by 2.9% in 2021 June 30, 20221
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Somali National Bureau of Statistics ( NBS) Says Somalia’s GDP Grew by 2.9% in 2021 June 30, 20221

Somalia National Bureau of Statistics (SNBS) says that the country’s gross domestic product (GDP) grew by 2.9 percent in the year 2021. SNBS made this announcement while releasing the latest Somalia GDP Report. The organization published the report on Thursday in the capital Mogadishu. According to the SNBS report, this is an incredible accomplishment considering that the Horn of Africa Nation GDP had declined by 0.3 percent in 2020. SNBS outlines that the growth is hinged on the recovery that the country is making from the shocks of the global COVID-19 pandemic shocks that had adversely gripped the East African in 2020. Somalia’s economy is leans on foreign aid, remittances from the Somali people in abroad and livestock which forms the main economic mainstay of the Nation. With the new government now place after a year and half of uncertainty, the economy is expected to make a major recovery.      

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