Somalia anno 2015 ; Facts and figures

[Lamagoodle]

The world Bank has published a study on Somalia. Granted much of the facts and figures are estimates and there is a black-sector economy which is not captured. But, a dire reading.

Summary
1.Life expectancy is improving; we are almost on par with other sub-Saharan African countries ( 50s). This figure is disputable
2.More than 70% of the population is under 30.
3.Diaspora remittances ; 2 Billion dollars
4.We are better than other sub-Saharan African countries when it comes to sanitation and access to clean water.
5.Infant mortality is higher in Somalia than Sub-saharan countries
6.GDP/capita; only Malawi, Burundi, Niger and CAR have a lower GDP. We are almost on par with Ethiopia. Both GDP and GDP/capita
7.42% live urban areas, 10% displaced, 23% rural and 26% nomadic
8.Consumption driven economy. We produce “talk”. 53% of GDP is imports. Almost 90% of exports in livestock and husbandry
9.Domestic revenue (taxes and levies) 5% of GDP
10.GDP is estimated at nearly 5 billion dollars
11.Government budget is around 200 million dollars ( almost 42% is for salaries and 45% on security). 57 millions of these is spent on security. In comparison AMison and others 30 times more
12.We owe almost 6 billion dollars to creditors ( 1,2 Billion is accumulated areas from the kacaan government).

Read here
http://www.worldbank.org/content/dam/Wo ... r-2015.pdf

[Jaidi]

So to recap the government has a budget of a small Western municipality. I thought we were on the brink of a major economic boom?

[gurey25]

The black economy probably dwarfs the real economy.
its all locked up in private hands.
Its the same everywhere there is a weak state.

In nigeria i remember a dinner at the mansion of our chairman, who is a dollar billionare.
inside it was more lavish and huge than you can imagine, while the road outside was full of potholes and looks exactly like burco,
with more greenery.

[LiquidHYDROGEN]

How does Xamar have a smaller operating budget than Hargeisa even though it is recognised and is able to get funds, AID and investment? Where is all the money that was being pumped into the country for the last 10-15 years? It's not like you guys build anything yourselves either, most of the infrastructure development (apart from hotel/restaurants) have been done at the expense of foreigners e.g. Turkey, Qatar, UNDP etc.

[TheFuturist]

The sad thing is the tiny economy is being propped up by remittances, without which it would utterly collapse

[TheFuturist]

So to recap the government has a budget of a small Western municipality. I thought we were on the brink of a major economic boom?

My borough with 3% of Somalia's population has a budget of $5.3bn

[LiquidHYDROGEN]

To be fair though, Somali countries don't produce anything of worth - we have no industry to speak of. No manufacturing industry, no primary sector e.g. oil, gas, minerals, no service sector (outside of remittance and internet providers) and no agriculture since most of the farmlands are in the South where there is least stability.

To be honest, I'm surprised Somalis have survived this far.

[GIJaamac]

6.GDP/capita; only Malawi, Burundi, Niger and CAR have a lower GDP. We are almost on par with Ethiopia. Both GDP and GDP/capita

Bullshit. Your average somali person is way more richer than your average ethiopian. World bank has no clue. They don't know the situation on the ground at all. I'm pretty sure people living in somalia are on average the most richest in HoA including Kenya.

[Itrah]

My municipality has 40 times the annual budget of Somalia's national government

[KingWaslawi]

Hayaay, Burco being the best palace to live in Somalia in terms of water supplies and cheaper cost of living. I am speechless, always expect the unexpectable.

[GeoSeven]

Cheers Lama

[GAMES]

70% of the population is under 30? Thats kinda hard to believe.

Somalis lie about their age.

[AbdiWahab252]

Interesting, Lama but wasn't 4.5 billion belonging to the Kacan government alone. None of the post governments were able to tap into those credit facilities.

[FAH1223]

To be fair though, Somali countries don't produce anything of worth - we have no industry to speak of. No manufacturing industry, no primary sector e.g. oil, gas, minerals, no service sector (outside of remittance and internet providers) and no agriculture since most of the farmlands are in the South where there is least stability.

To be honest, I'm surprised Somalis have survived this far.

Remittances, an informal economy, communal culture... I can see why Somalis are surviving

[AgentOfChaos]

And by whose's standards are they judging Somalia on?