Somaliland’s Economy plumets following Las Anod eviction

Hargeisa September 26, 2023 (QJ)-Somaliland’s Minister of Finance, Sa’ad Cali Shire, has stated that the economy of Somaliland has been severely affected, especially since the two of the enclave’s main markets burned down and the beginning of conflicts in the Sool region.

During a meeting with the Economic Committee of the Somaliland House of Representatives, Shire noted that the livestock sector had been performing well, but the market economy had suffered a significant downturn.

“The livestock sector is doing well this year, and there has been plenty of rainfall. Livestock is healthy, but many have been lost due to excessive rains. However, our market economy has experienced a downturn, especially in the Wajaale market, which has been hit hard, impacting our economy,” said Sacad Shire.

The closure of the Waheen and Wajale markets and the conflict in Las Anod have indeed taken a toll on Somaliland’s economy, which had been a significant source of revenue for Somaliland, and has further exacerbated the situation.

Additionally, traders from Ethiopia’s regional administration have largely redirected their goods to Puntland, causing economic hardships for Somaliland.