Somaliland’s economy is experiencing a notable upswing, with increased business activities and market transactions signaling growing public confidence in the new government’s economic policies, according to a report presented today by Minister of Finance and Economic Development, Hon. Abdillahi Hassan, to the Council of Ministers meetings.
During the meeting, Minister Hassan highlighted the positive trajectory of the nation’s fiscal health, emphasizing that national revenue is rising steadily. “We are witnessing daily improvements in revenue collection, driven by the trust citizens have in our economic strategies,” he stated. The Minister attributed the surge in commercial activity to targeted policies fostering a conducive environment for businesses and trade.
To sustain this growth, the Ministry of Finance is actively reviewing and reassessing key tax structures to enhance government revenue. These efforts aim to strengthen fiscal capacity while supporting Somaliland’s economic recovery. “Our focus is on optimizing tax systems to ensure sustainable revenue growth that benefits to all Somalilanders,” Hassan added.
The report underscores Somaliland’s progress toward economic stability, positioning the country as an emerging hub in the Horn of Africa. The government’s commitment to fiscal reform continues to inspire optimism among citizens and investors alike.