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Somalia unveils team of experts for economic turn-around

Storyline:Business, National News

The National Economic Council advisory team is made up of nine local and international experts

The National Economic Council advisory members were unveiled today in Mogadishu. Photo: Goobjoog News

Somalia has tapped into local and international economic experts to steer the country’s newly formed National Economic Council which will be tasked with advising the government on economic and financial policies.

The team made up of five Somalis and four international experts each command vast experience in economic planning and financial policy sectors with working experience in the World Bank, think tanks, UN and academia.

Speaking during the unveiling of the team, Prime Minister Hassan Khaire urged the team to put mindss together towards bolstering the country’s economic growth and boosting incomes among Somalis. The PM also called on Somalis to increase input by committing more hours to their work.

“It is our responsibility and the National Economic Council to lead to the growth of income for every Somali citizen and create new jobs in order to find a lasting solution for the unemployed Somali youths,” the PM said. “The average earning per person can be achieved by increasing the working hours, providing staff with training and also providing tools that enable them to fulfil their obligations to gain an increase of their skills and knowledge.”

The PM also urged the National Economic Council (NEC) to work towards boosting the country’s livestock and agricultural production as it is the mainstay of the country. The

“The National Economic Council should ensure that agricultural and livestock production is at a high standard,” the PM said. “Somalia’s economy mainly depends on agricultural and livestock production. Agriculture and livestock production is currently not in the required level because of poor agricultural practices in the country.”

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Among members are Dr. Ali Issa Abdi, currently the managing director The Horn Economic and Policy Institute (HEPI) and formerly a senior economist at the International Monetary Fund, Dr. Aues Scek a development economist with experience in the World Bank and academia and Dr. Hussein Warsame an associate professor at the University of Calgary in the UK. Others are former Kenya Central Bank Governor Dr. Edward Sambili, University of Nairobi don Dr. Nehemiah Ng’eno, Dr. Peter Middlebrook the CEO of Geopolicity Inc and international management consulting group, Hussein Siad an economic development professional and Dr. Sakhawadin Mohamed an applied economics expert.

The Council which will be supported by a secretariat, The Economic Policy Analysis Unit (EPAU) will be tasked with advising the President and the Government on formulation and execution of sound economic and financial policies and reforms. The team will also conduct objective and sound economic and financial analysis to inform the policies formulation at the highest levels in government.