MOGADISHU — Somalia’s economy has recorded 3.1% growth, according to a report presented by the Ministry of Finance during the Federal Cabinet’s weekly meeting in Mogadishu.
The meeting, chaired by Prime Minister Hamza Abdi Barre, reviewed developments in the economy, national security and defence, with particular attention given to the government’s financial performance and economic reform efforts.
The Ministry of Finance presented a report covering the 2025 annual financial accounts, domestic revenue collection, economic growth and reforms to the country’s public financial management system.
Prime Minister Hamza said Somalia must continue working toward greater economic self-reliance by increasing domestic production, making better use of national resources, expanding domestic revenues and encouraging investment.
He also stressed the importance of financial transparency, accountability and protecting public assets, describing these measures as essential to strengthening public institutions and improving confidence in the country’s financial system.
The Prime Minister further praised the Ministry of Finance following an assessment by the Office of the Auditor General, which, according to the government’s report, gave the ministry a rating described as “Clean Opinion,” presented as the highest level of financial compliance assessment.
The Cabinet was also briefed on the country’s security situation and recent military operations against Al-Shabaab. The government said Somali security forces had made progress in several areas and inflicted losses on the militant group.
The reported economic growth comes as Somalia continues efforts to strengthen domestic revenue collection and reduce its dependence on external assistance. Recent economic assessments have projected continued growth, although Somalia remains vulnerable to climate shocks, reduced aid and other structural challenges. (Ministry of Finance Somalia)
Prime Minister Hamza said the government’s long-term objective is to build a stronger and more self-sufficient economy capable of financing national priorities while gradually reducing reliance on foreign aid.
