MOGADISHU(Halbeeg-News)-National Economic Policy Forum has today kicked off in Somalia’s capital, Mogadishu.
Somali deputy Prime Minister, Mahdi Mohamed Guleid has officially opened the meeting which was scheduled to run for one day.
The meeting brought together ministers, deputy ministers, representatives from the country’s higher education institutions, entrepreneurs and representatives from International Community.
Speaking at the opening of the meeting, the deputy prime minister said Somali government did progressive reforms for the last one year.
“For the first, our government managed to assign one ministry to collect the income taxes. For the first time, Somalia secured the agreement of SMP (IMF staff-monitored programme), it is now in its third phase which came as a result of reforms for progress,” Mr. Mahdi said.
The meeting is aimed to take stock of current progress and to plan the way forward.
Somalia is now on its third 12-month IMF staff-monitored programme after the conclusion of second and final review under SMP, IMF statement stated.
The international Financial Institution said the Managing Director of IMF has approved a third 12-month SMP (SMPIII).
The third staff-monitored programme will run between May 2018-April 2019.
The program will focus on broadening and deepening reform implementation to maintain macroeconomic stability and to continue rebuilding institutions and capacity to improve macroeconomic management and governance.