Mogadishu, May 14, 2023: The National Economic Council convened today for a high-level meeting at Villa Somalia, under the chairmanship of His Excellency Dr. Hassan Sheikh Mohamud, President of the Federal Republic of Somalia. The esteemed attendees included the Prime Minister, H.E Hamse Abdi Barre; Deputy Prime Minister, H.E Salah Ahmed Jama; and the Governor of the Central Bank, Mr. Abdirahman Mohamed Abdullahi, and Members of the Economic Sub-Committee of the Council of Ministers.
During extensive delibertations on key matters, the Council:
- Addressed imperative issues concerning the formulation of national development policy and the expeditious implementation of programs aimed at accelerating the nation’s economic recovery.
- Urged both the National Economic Council and the Federal Government to take the lead in spearheading initiatives that foster robust economic growth and development.
- Reviewed several reports submitted by the National Economic Advisors, the technical arm of the Council. The reports presented the long-term framework for the development of Centennial Vision 2060, as well as the post debt relief and liberation plan.
- Unanimously agreed that Vision 2060 should be adopted by the Federal Government, with a commitment to implementing the recommendations outlined in Phase 1 of its formulation.
- Emphasizing the significance of Vision 2060, the Council urged the National Economic Advisors to expedite the subsequent activities of its finalization. These include engaging in public consultations, organizing policy forums, and conducting thorough research.
- Called on the Council of Ministers to formally endorse the formulation of Vision 2060 and effectively implement the recommendations provided by the National Economic Council at its technical level.
- Agreed that Vision 2060 should serve as the overarching blueprint guiding all development initiatives in the country. Further noted that the development blueprint ushers for Somalia an era of stability, prosperity and high living standarts for its citizens.
- In conclusion, the Council strongly recommended prioritizing the expeditious completion of the Post-HIPC Plan, as a testament to the FGS’ commitment to national progress.