Somalia records 18.5% revenue increase

Somalia government has recorded an 18.5 percent increase in revenue collection.

According to dispatch from the Finance Ministry,  the government collected a total of 293.3 million dollars in 2018, compared to 248 million dollars in 2017.

The development is a welcome boost for the economy which has been struggling to meet its obligation to reign lenders. The government is struggling to pay its external debt of about $5.2 billion, according to the IMF.

Somalia has not made a service or amortization payment since civil war broke out more than 25 years ago.