Hargeisa — Somaliland’s Minister of Finance and Economic Development, Abdillahi Hassan, has announced a significant upswing in domestic trade and market activity, which he attributes to increasing public confidence in the economic policies of the new administration.
In a briefing this week, Hassan noted that national revenue performance continues to improve steadily, driven by strong tax compliance and a more vibrant local economy. “This is a promising sign for our fiscal future,” he said, emphasizing that these gains will help enhance public services and bolster economic stability.
As part of ongoing fiscal reforms, the Ministry of Finance and Economic Development has initiated a broad review of its key revenue streams. These include Payroll Income Tax, Rental Income Tax, Business Income Tax, and the Goods and Services Tax (GST), among others. The goal, according to Hassan, is to create a fairer, more transparent tax environment that supports sustainable growth.
The minister assured that these measures would lay a solid foundation for long-term prosperity, enabling the government to strengthen its service delivery and maintain economic resilience in the years to come.