Minister of Finance, Abdirahman Duale Beileh has called on the private sector to enhance their productivity in the country and establish economic growth.
Delivering speech at a meeting organized by Taaj Money Transfer Service, the minister emphasized the importance of further strengthening the country’s economy.
“I spoke of the importance of further strengthening financial governance to ensure we connect Somalia’s vibrant financial sector to the global financial system,” he said.
In recent years, the Somali government has been trying to encouraging the private sectors to increase and expand their production to take part in the rebuilding process of the country.
Following discussions with the sectors, tax agreements have been reached with airlines and telecom companies, giving the government more revenue.
Since last year, Somalia has been struggling to win the confidence of the International Community to secure lucrative benefits such as debt relief worth $4.6 billion owed to the World Bank, Internationally Monetary Fund and others.
The government launched a tax collection campaign as part of efforts to secure millions of dollars in domestic revenues to subsidize its donor-supported budget.