Somalia Joint Needs Assessment : Macroeconomic Policy Framework and Data Development Cluster Report
2006
World Bank | United Nations
Since 1991, the Somali economy has suffered from droughts, the absence of government, and local conflicts. Unlike the 1970s and 1980s when most of the output of the small industrial sector and many services were provided by the public sector, there has been significant (but unmeasured) private investment in commercial ventures, including in trade and marketing; money transfer services; transport; communications; airlines; telecommunications; other services including construction and hotels; education and health; and fishery equipment. In regard to the macroeconomic policy framework, the short to medium-term objectives are to: establish and maintain macroeconomic stability; develop a stable currency and a sound and growing public revenues base; establish core civil service institutions along with accountable budgetary processes, public finance management, and revenue systems; and reestablish financial services. In addition, it is important to establish data systems to secure the data needed to monitor social and economic developments and to inform sound policy and institutional development.
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