GETS Inaugural Event Report

The National Economic Council (NEC) was established in 2018 and is chaired by the President of the FGS and the Prime Minister as alternates. It comprises the leaders of the Federal Member States, the FGS Cabinet Economic Sub-committee, the Governor of the Central Bank, and a team of selected national and international economic advisors. The economic advisors, together with sector experts and consultants, conduct evidence-based research on economic and social issues of concern to the nation and provide policy forums for discussion and knowledge dissemination for essential policy reforms. The NEC and advisory members are supported by an Economic Policy Analysis Unit that performs the secretariat, operational and related technical activities for the NEC, such as the preparation, organization and delivery of policy forums/conferences and periodic Consultative Meetings. Somalia has made progress and realized important milestones in rebuilding its economy as the country has emerged from two plus decades of instability, and the Federal Government received considerable support its international partners. Despite the external support, the country has continued to face weak institutional capacity, extreme food insecurity and complex politics, which have constrained recovery and reconstruction.