Minister of Finance and Economic Development, Abdillahi Hassan Adan, has raised alarm over the severe economic fallout from ongoing conflicts in the Middle East, revealing that rising oil prices, soaring import expenses, and increased maritime insurance costs have directly hammered trade and the daily lives of citizens.
Presenting his report to the Cabinet meeting on Wednesday, April 8, 2026, the minister warned that these external shocks have placed heavy economic pressure on the entire population.
Minister Abdillahi Hassan stressed the urgent need for national unity and self-reliance, calling for stronger domestic revenue generation to curb inflation and stabilize the Somaliland Shilling. He emphasized boosting local production and reducing dependence on foreign markets through coordinated efforts across government institutions.