The Ministry of Finance has reported an increase in Somalia’s Year-on-Year between June 2019 and June 2020.
The total revenue that the Federal Government of Somalia has collected as of June 2020 stands at $269.8 million.
In percentage points, that represents a growth of 110.7 percent compared to the same period last year.
In monetary terms, the government has collected revenue worth $141.7 million more in 2020 than it did in 2019.
The figures are quite impressive when considering the multiple crises Somalia has been forced to contend with from late last year to August 2020.
Some of these crises include the COVID-19 pandemic, a devastating locust invasion, and floods that destroyed farmlands while displacing tens of thousands of people around the country.
Furthermore, remittances from Somalis in the diaspora have reduced significantly because of the global pandemic that continues to halt economies and force businesses to close.