Somalia has the potential to be a regional economic hub due to its strategic geographic location and having the longest coastline in Africa. The country’s huge trade deficit is an opportunity for Somalis to produce for domestic and international markets and to reduce dependence on imports. The country is also endowed with huge agricultural and aquaculture production and processing potential.
Real GDP growth is projected to be 3.5% in 2019 and 2020. Resolving the debt situation by 2019–20, conditioned on satisfactory performance under the International Monetary Fund Staff Monitoring Program, could also restore investor confidence.
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