“Economic growth is projected to remain broadly stable at 2.9% in 2019. Inflation is projected to increase temporarily to 4.0% in 2019, due to higher food prices as a result of poor rainfall earlier in the year,” the IMF said.
“Key risks to the outlook continue to reflect the difficult security situation and vulnerability to climate shocks,” it added in a statement late on Wednesday.
In May, the fund had put Somalia’s economic growth forecast at 3%, and inflation projections at 3 to 3.2%.
The International Monetary Fund has been pushing for better management of public finances, while the government is implementing reforms under an agreed staff-monitored programme.
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