CV2060 & Presidential Initiatives

Introduction to Centennial Vision 2060:

Somalia embarked on a process of rebuilding its institutions and economy after more than two decades of conflict and instability. By August 2012, the country provisionally adopted a new constitution, which paved the way for the establishment of the Federal Government of Somalia (FGS) and its constituent five federal member states (FMS).

Despite this, Somalia continues to face weak institutional capacity, fragile security and complex politics, which have constrained economic recovery and reconstruction.Among the most pressing economic and social challenges are:

First, lack of enabling environment in the form of prevalent state fragility and continued insecurity in some areas and poor infrastructure limits sound economic activity to take place. The lack of capable state and capacity are manifested in poor financial governance and economic management that placed Somalia is at the bottom of the Transparency International Corruption Perception Index. Formal regulations of financial governance and the rule of law remain unevenly enforced in the country.

Second, Somalia has been associated with prevalent food insecurity and environmental degradation. The country has faced recurring food insecurity and severe periods of famine, particularly the most disastrous in 2011-12, when about 200,000 people perished. In 2016 there was a major food crisis when drought contributed to a significant loss of life in the country. In 2022, Somalia came on the brink of full scale famine as it experienced the worst drought in over 40 years as the country as a result of six successive below average rainfall seasons.

Third, poor economic and social indicators, high unemployment, and internal displacement and outward migration have been common features of the country. Per capita income is one of the lowest in the world. Life expectancy is about 20 years lower than the average of for developing countries and is currently around 55 years. Health and education indicators such as child and maternal health, or the number of school age children attending school are some of the lowest in the world. In addition, about 70% of the population of Somalia is under thirty years of age and more than 50% of the working age population remains unemployed.

in light of the above, a broad consensus has emerged among policymakers and change agents within the country that Somalia should urgently address the critical constraints on economic and social progress, reconstruction and recovery. To this end, it initiated a process of reforming its economy and society under the auspices of various IMF and World Bank programs. These extensive reform initiatives have been implemented in numerous sectors (security, social, political, governance and economic). As a result, the the country reached the decision point for the Heavily Indebted Poor Countries (HIPC) initiative in March 2020 and got arrears clearance from IFIs (IMF, WB, AfDB).
Paris club members followed suit with a debt relief of 67%. The country is now negotiating with non-Paris Club members for similar arrangements. As a result of the country’s satisfactory reforms, Somalia is on course to reach the Completion Point of the HIPC process by the end of 2023, and, thus, secure debt relief and future concessional financing.

To coincide with the above achievements, President Dr. Hassan Sheikh Mohamud put the idea of conducting a national visioning exercise on the national agenda following his election in May 2022 to enable the Somali people and institutions develop programs and reforms that could, in a holistic manner, root the principal causes of the fragility, poverty and instability, which have been ravaging the country for decades.

In January of 2023, the President of the FGS, H.E. Dr. Hassan Sheikh Mohamoud announced in his annual Presidential address to the nation that Somalia will have a CV2060, which will serve as foundation for the country’s future development path, guiding all future development planning frameworks. Subsequently, the President tasked the National Economic Council (NEC) with the development of a process to lead to the formulation of CV2060, which will foster the building of essential national institutions for recovery and reconstruction.

As instructed by the President, the new vision will be derived from dialogue among all the stakeholders and consensus built on forging ahead with an inclusive national development agenda. Thus, it will provide a sense of national commitment based on thorough analysis and diagnosis of the country’s past and present situation and future opportunities. Additionally, it will present realistic and attainable possibilities for the nation. This, in turn, will enable the policymakers to set out the policies, initiatives and measures required to deliver on the vision.

Objectives of the Vision:

The main objective of the Vision is to formulate a shared long-term strategy and commitment to fundamentally transform Somalia into a middle-income country with a capable state with the ability to effectively serve its people by 2060. It is envisaged that the new vision will build a national consensus that will be detailed in the strategy to provide guidance to decision-makers in the public and private sectors; and to formulate a comprehensive social and economic development roadmap to serve as a reference point to the effective implementation of such strategy.

In addition, the vision intends to promote a shared commitment of all stakeholders to ensure sound policy implementation in all aspects of public and private responsibilities with targeted and specific objectives and benchmarks. The execution of the formulated new vision would enhance socio-political and economic governance and would also require accountability, transparency, and integrity as the basis of the delivery of the Vision.

The overriding aim of the Vision is to create a prosperous, secure, democratic, inclusive, and competitive country with a high quality of life. The fundamental intention is to transform the country into a middle-income country status, providing wellbeing to all its citizens on a sustainable basis. With Somalia`s current resource base and structural characteristics, prioritization and sequencing of initiatives would be crucial. As there are interdependencies and complementarities between inter-sectoral policies and developments, sectoral and economic transformation cannot be realized without human skills, adequate economic infrastructure, and financial resources.

The specific objectives of the Vision 2060 in the short and near-term include the promotion of peace, security, reconciliation, justice for all and the rule of law in the country; and the implementation of policies that will ensure macroeconomic stability, improved economic infrastructure, productive private sector economic activities, and reduction of food insecurity and aid dependence. In the medium and long-term, the Vision 2060 aims at transforming Somalia to a knowledge-based economy, with improved education and health standards to provide a skilled and competitive workforce and foster entrepreneurship.

The specific objectives of the Vision are as follows:

– To formulate a shared, long-term development blueprint for the country, which serves as an anchor for the national development plans (NDPs) that, in turn, provide the framework for comprehensive, measured social and economic development.

– To promote a shared commitment of all stakeholders to ensure sound policies, which are sequenced and prioritized.

– To serve as the Somalia’s national commitment to, and harmonization of targets with the UN Sustainable Development Goals, African Union Agenda 2063, East African Community Vision 2050, and the Paris Agreement on climate Charge, among other instruments.

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