Minister of Finance : Somalia GDP is 6 Billion

[Kezira]

As a Ethio-Somali I wish my neighbouring country well.

 

[Apollo]

They should abolish paper money and go fully digital to track all financial transactions. The informal economy in Somalia is just too big and nobody pays tax. I am skeptical of these gov figures.

 

[Kezira]

They should abolish paper money and go fully digital to track all financial transactions. The informal economy in Somalia is just too big and nobody pays tax. I am skeptical of these gov figures.

We're talking about people that still use livestock as a form of payment

 

[XamarCade]

We're talking about people that still use livestock as a form of payment

U can come up with a better banter than that. Livestock is actually a form of wealth fyi

 

[TheAnswer]

The generation born in Somalia artificially boosts Somalia's economy by sending more than a billion in remittances annually. The country is fucked when they die. The diaspora generation born in places like Toronto and London sure as hell won't be remitting their savings monthly, hell the majority won't even understand enough Somali to respond to their relative's phone calls for handouts. I've yet to hear any Somali politician speak to this problem. It's not an issue now, but it will be a big one in 20 years...

 

[XamarCade]

The generation born in Somalia artificially boosts Somalia's economy by sending more than a billion in remittances annually. The country is fucked when they die. The diaspora generation born in places like Toronto and London sure as hell won't be remitting their savings monthly, hell the majority won't even understand enough Somali to respond to their relative's phone calls for handouts. I've yet to hear any Somali politician speak to this problem. It's not an issue now, but it will be a big one in 20 years...

Somalia will survive without the bums like u anyway, it's actually a blessing if all the ciyaal suuqs get lost in the west, Somalia is an emerging country, u either get on board or get left behind.