The ongoing drought in Somalia could push the country’s inflation to double digits.
Abdirahman Abdullahi, the Governor of the Central Bank of Somalia (CBS) has just relayed this piece of news to the public.
According to Governor Abdullahi’s estimates, inflation could rise to 10 percent by the end of the year.
That would be the highest level of inflation in Somalia in more than 15 years.
Currently, the East African nation is going through its worst drought of the last 40 years. Human lives and farming activities are at serious risk.
Around 7 million people in Somalia need food aid.
As per the Central Bank’s statistics, inflation is currently at 6.7 percent.
The Central Bank Governor has warned that more Somalis would be pushed further into poverty if the drought continues.