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MOGADISHU, 7 November 2026 Mogadishu has hosted a conference focused on harmonizing Somalia's national economic data and strengthening cooperation among government institutions responsible for collecting, compiling and analysing economic information.
According to the Ministry of Finance, the conference forms part of broader efforts to establish a coordinated framework among institutions responsible for economic data, with the aim of ensuring the country produces accurate, consistent and timely information.
Such data are essential for economic planning, assessing national economic performance and supporting government decision-making, the ministry said.
The Director General of the Ministry of Finance, Suleyman Sheikh Omar, said the primary objective is to consolidate the institutional capacity and expertise of government economic agencies to establish a unified and reliable national economic data system.
He noted that economic data in Somalia are dispersed across government institutions and the private sector, creating a need for a coordinated mechanism to bring together information generated from these different sources.
"If the data are not consolidated, different and conflicting reports may emerge. To avoid this, the people who were already working in these areas and connected through their professional expertise have now been brought together," Omar said.
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The initiative brings together four key government institutions: the Ministry of Finance, the Central Bank of Somalia, the Ministry of Planning, Investment and Economic Development, and the Somali National Bureau of Statistics.
Each institution has distinct responsibilities in the production, collection and management of economic data. However, their mandates are complementary, making coordination essential to developing a more comprehensive and consistent picture of Somalia's economy.
Bukhari Abdiwahab, director of economic policy and planning at the Ministry of Finance, explained the respective roles of the institutions within the initiative.
"The Ministry of Finance holds government fiscal data, including revenue, expenditure and public debt, while the Central Bank of Somalia maintains monetary and external sector data, including information on the balance of financial flows into and out of the country," he said.
The four institutions are expected to continue fulfilling their respective mandates while strengthening collaboration and aligning their economic data systems. Their responsibilities remain distinct, but their work is complementary, with each institution contributing a different component of the country's overall economic information framework.
Through this cooperation, the government aims to improve the consistency and reliability of official economic information, providing a stronger foundation for national economic analysis, planning and policymaking.