Currently GDP PPP stands at $32 billion and most likely is closer to the $50 billion mark with a proper rebase. A $300 billion economy with a population of 20 million (in 2033) equals a per capita income of $15000. In just 10 years Somalia would have graduated to a high income country. The nominal figures would equally be impressive for a post-war country.
All we have to do to reach these numbers is 10X everything we today, and its hilarious how little we are actually doing. The establishment of just four or five industrial parks complete with their own power plants, the attachment of a dozen international shipping lines to Somali Ports with shipyards and tanking facilities, a Green Revolution in the agricultural sector with irrigation zones and dams, a strong Blue Economy via our marine resources, the transformation of the livestock economy with ranches, meat processing factories and grazing zones, the modernisation of our cities with Central Business Districts attracting FDI and foreign companies, banks, hubs, etc and the cultivation of a robust tourism section catering to the diaspora would add tens of billions of dollars to the economy.
The Somali Economy has been stumbling along in the last decades like a zombie in MJ’s Thriller music video but I predict the next 10 years to be really exciting and transformational for the Somali people as a whole if they grab their destiny with both hands and don’t fumble the bag insha’allah.
All we have to do to reach these numbers is 10X everything we today, and its hilarious how little we are actually doing. The establishment of just four or five industrial parks complete with their own power plants, the attachment of a dozen international shipping lines to Somali Ports with shipyards and tanking facilities, a Green Revolution in the agricultural sector with irrigation zones and dams, a strong Blue Economy via our marine resources, the transformation of the livestock economy with ranches, meat processing factories and grazing zones, the modernisation of our cities with Central Business Districts attracting FDI and foreign companies, banks, hubs, etc and the cultivation of a robust tourism section catering to the diaspora would add tens of billions of dollars to the economy.
The Somali Economy has been stumbling along in the last decades like a zombie in MJ’s Thriller music video but I predict the next 10 years to be really exciting and transformational for the Somali people as a whole if they grab their destiny with both hands and don’t fumble the bag insha’allah.
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