On Monday, Somalia’s Ministry of Finance announced that it had exceeded its revenue projections for June 2020.
The finance ministry posted on Twitter that it exceeded its projections by as much as 116 percent.
This is quite significant since Somalia has faced multiple crises in 2020.
For example, the country is currently in the middle of a fierce COVID-19 pandemic. Secondly, it has also experienced several waves of desert locust invasion.
Floods caused by heavy rainfall in the last 2-3 months have made the situation dire in different parts of the country.
Nevertheless, the fact that the country exceeded its budgetary forecast by more than 100 percent means its economy is on the right path.