2060 targets an annual income of $4K for every #Somali citizen

[EainA2]

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EXCLUSIVE: #Somalia's Presidential Chief Economic Adviser
@HassanAHosow
says current national plan for 2060 targets an annual income of $4K for every #Somali citizen by the country's centenary, noting the average income now remains below $1K. "This long-term strategy focuses on significantly raising income levels and improving the overall economic well-being of Somali citizens," he told
@ArlaadiMnetwork
.
"

 

[Nin123]

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Is the 2060 stand for the year or is it the plan name? Cause waiting 40 yrs for 4K income is so low.

 

[Keep it a boqol]

if that time ever comes i hope they ban khat.

I like Brazil’s version better. Families were sent money transfers for sending their kids and keeping them in schools. I believe this is much more effective and would incentives kids to learn rather then to drop out.

Bolsa Família in Brazil

www.centreforpublicimpact.org

 

[Avalanche]

I will be too old by then

 

[EainA2]

Is the 2060 stand for the year or is it the plan name? Cause waiting 40 yrs for 4K income is so low.

They're saying the current national plan for 2060 targets an annual income of $4K. I agree it's low. By that time, 4K won’t even be worth much due to inflation. We urgently need people in government who know what they're doing

 

[Xoolo]

Wtf I really hate African leaders. They are absolute maangaab. They lack han iyo hami fog.
What the hell is 4k in 2060?
I really hate these stupid old folks

 

[DR OSMAN]

Wtf I really hate African leaders. They are absolute maangaab. They lack han iyo hami fog.
What the hell is 4k in 2060?
I really hate these stupid old folks

The rest of the world will be somewhere around 250k per person in developed countries, second world will be around 120 to 150k, Somalia will be 4k, their role in the wealth heirachy doesn't change and in 2060 our kids will be like why do I have to be Somali lol

 

[DR OSMAN]

Wtf I really hate African leaders. They are absolute maangaab. They lack han iyo hami fog.
What the hell is 4k in 2060?
I really hate these stupid old folks

A true economist will know no country anywhere developed to a wealthy country without shutting down its port to foreign goods and telling locals either make it here or else U will not bring it here, U just can't develop while your using foreign items I'm sorry. We need to do this urgently applying high tariffs or bans on foreign goods so local companies can service the market and grow and only open up when we reached our development goals. It's not like the world is gonna be harmed by us either. Obviously we can't do it immediately but bit by bit shut down foreign items and invite locals to fill it.

 

[Pastoralist]

Maybe they’re talking about just the poorest of the poor Somalis. Right now they get nothing, maybe a few hundred annually. While in reality, the median income will be much higher than 4k.

this could be their announcement of a welfare program to be in full effect and cover all of Somalia within 2060.

 

[Midas]

Yeah he's off but keep in mind somalia has a fast growing pouplation that will always cut into your gdo per capita. I just did some calculations if Somalia which has 18 million people now and is predicted to be at 44 million by 2060. Wanted to reach the $12,000 gdp per capita china has right now. We woukd have to grow 10.5% every year for the next 35 years.

 

[Midas]

Keep in monster that a lot of countires have a lower gdp in 2024 then they did in 2014. Nigeria gdps is only half of what it was in 2014. So even In 2060 a lot of countires in africa will probaly not have a 4k gdp per capita. 2060 is only 35 years away. Thats like from 1990 -2024. How much has africa improved since then?

 

[DR OSMAN]

Yeah he's off but keep in mind somalia has a fast growing pouplation that will always cut into your gdo per capita. I just did some calculations if Somalia which has 18 million people now and is predicted to be at 44 million by 2060. Wanted to reach the $12,000 gdp per capita china has right now. We woukd have to grow 10.5% every year for the next 35 years.

It's very achievable because it's undeveloped market so many opportunities to set up industries without deep over supplies like the developed world and why their growth is low cause it gets harder and harder to grow as your market has less and less opportunities, that isn't an issue for s frontier country like Somalia, it's like a never ending opportunities. But it will need some govt interference to close the port over time to foreign items.

 

[Xoolo]

A true economist will know no country anywhere developed to a wealthy country without shutting down its port to foreign goods and telling locals either make it here or else U will not bring it here, U just can't develop while your using foreign items I'm sorry. We need to do this urgently applying high tariffs or bans on foreign goods so local companies can service the market and grow and only open up when we reached our development goals. It's not like the world is gonna be harmed by us either. Obviously we can't do it immediately but bit by bit shut down foreign items and invite locals to fill it.

That's what I said Somalis need to be forced to develop.
Making access to product for end consumer impossible.
First let's start with basic needs like food, clothes, then introduce harsh tariffs and bans to other categories one by one.

Necessity is the mother of all invention for a reason.
Somalis will only be innovative when it's absolute necessary to do so.
We're very shortsighted folks most of the time.

Investment into energy and water infrastructure is all needed. Manufacturers, innovators tax free and other incentives from the FGS

 

[Pastoralist]

so we’ll be above India’s current gdp per capita in 2060 with a population of 30-50million by then. That means the country will be fully recovered, because per person our population makes it far more manageable than those other countries.

 

[Midas]

It's very achievable because it's undeveloped market so many opportunities to set up industries without deep over supplies like the developed world and why their growth is low cause it gets harder and harder to grow as your market has less and less opportunities, that isn't an issue for s frontier country like Somalia, it's like a never ending opportunities. But it will need some govt interference to close the port over time to foreign items.

I think somalia has certain unqiue advantages, which is why I'm hopeful. But this level of growth is not normal. Very few countries have ever achieved this level of growth for multiple decades . none in africa.

 

[Askari]

That's what I said Somalis need to be forced to develop.
Making access to product for end consumer impossible.
First let's start with basic needs like food, clothes, then introduce harsh tariffs and bans to other categories one by one.

Necessity is the mother of all invention for a reason.
Somalis will only be innovative when it's absolute necessary to do so.
We're very shortsighted folks most of the time.

Investment into energy and water infrastructure is all needed. Manufacturers, innovators tax free and other incentives from the FGS

This is how countries like South Korea developed

 

[Ashraf]

The rest of the world will be somewhere around 250k per person in developed countries, second world will be around 120 to 150k, Somalia will be 4k, their role in the wealth heirachy doesn't change and in 2060 our kids will be like why do I have to be Somali lol

It’s very difficult to not be ashamed of being Somali in this generation when our leaders are expecting this humiliation to continue for our next of kin. Somali culture degraded wildly during the civil war. Our parents here are gonna be the only thing reminiscent of the true Somali culture we had then. Somalia in the future is gonna be so much worse I’m optimistic at all by ANY metric!

 

[The Oponian Guild]

Progress is progress no matter how slow

 

[Tiyeglow]

While they feast of the NGO money meant to reach those who are under $1k taking (read looting) more than $4k a month. Honestly, xildhibaan role in Somalia is so negligent that it would actually be better for them not to exist. What annoys me more than anything is how arrogant they are because they think they have position of power (in reality they don't they tapdance for looted NGO money lol - what pathetic human beings).

 

[Libaax-Joore]

They're saying the current national plan for 2060 targets an annual income of $4K. I agree it's low. By that time, 4K won’t even be worth much due to inflation. We urgently need people in government who know what they're doing

I can make $100k a year in puntland just by exporting livestock the bunker government is a failed project of Uganda @Jungle