Somalia’s economy is projected to recover to 3.7 percent growth this year and 3.8 percent in 2025 as it reaps the benefits of East African Community (EAC) membership, a new African Development Bank (AfDB) report says.
According to the 2024 Country Focus Report on Somalia released by the lender, Somalia’s GDP growth will be driven by a recovery in livestock, services, private consumption, remittances and investment. The country’s strategic location at the Red Sea and Indian Ocean positions it as a regional export hub to the Gulf.
