Somalia Unveils Ambitious Post-Debt Development Blueprint

GOOBJOOG NEWS|MOGADISHU: Prime Minister Hamze Barrre has launched an ambitious economic plan aimed at transforming Somalia’s economy and creating immense investment and growth opportunities in the next five years.

The PM unveiled the process towards the National Transformation Plan (NTP) which is set to replace the National Development Plan 9 in January 2025.

The NTP which sets the economic transformation agenda between 2025 and 2029, envisages targeted investment in productive sectors to achieve economic growth, job creation, and development opportunities.

“The NTP exemplifies an innovative strategy focused on tangible actions and real change for the betterment of our nation,” the PM said during the launch in Mogadishu on Wednesday.

Noting that the plan is founded on utilisation of human and economic resources, the PM added, “It seeks to produce concrete plans to invest in agriculture, fisheries, livestock, roads, bridges, ports, airports, and other natural resources, among other economic infrastructures, to attain economic self-sufficiency”

Prime Minister Barre stressed that meaningful change can only be realized when everyone takes the initiative to play their part. “Only then can we achieve the collective, overarching, and long-term developmental goals and aspirations of our people,” he noted.

The NDP9 spearheaded the process towards the completion of the debt relief process while the NTP now sets the ground for the post-debt economic transformation.