Somalia Economic Update, July 2017 : Mobilizing Domestic Revenue to Rebuild Somalia
Somalia currently faces large-scale food insecurity, arising from the drought and poor rainfall conditions prevailing across much of the country. Following four consecutive seasons of poor rainfall and low river water levels in large swaths of the...
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| Format: | Report |
| Language: | English en_US |
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World Bank, Nairobi
2017
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| Online Access: | http://documents.worldbank.org/curated/en/552691501679650925/Somalia-economic-update-mobilizing-domestic-revenue-to-rebuild-Somalia http://hdl.handle.net/10986/28112 |
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okr-10986-281122021-05-25T09:03:03Z Somalia Economic Update, July 2017 : Mobilizing Domestic Revenue to Rebuild Somalia World Bank Group FOOD SECURITY ECONOMIC GROWTH ECONOMIC OUTLOOK MONETARY POLICY EXTERNAL IMBALANCE RISKS REVENUE TAXATION REFORM Somalia currently faces large-scale food insecurity, arising from the drought and poor rainfall conditions prevailing across much of the country. Following four consecutive seasons of poor rainfall and low river water levels in large swaths of the country, a severe food crisis has hit in 2017. The drought has led to near total crop failures and reduced rural employment opportunities, widespread shortage of water and pasture, and consequent increases in livestock deaths, which have in turn stretched the country’s coping mechanisms to the brink. Food access diminished rapidly among poor households as staple food prices rose sharply and livestock prices dropped significantly as people engaged in forced sales to cope with the effects of the drought. According to a preliminary Rapid Drought Needs Assessment (RDNA) by World Bank staff, which is based on a triangulation of secondary data1 through remote-sensing techniques, the drought has led to: livestock-related losses of between US$1.3 billion and US$1.7 billion for the period of the drought; crop production losses of up to US$60 million during the period of the drought; and depletion of nominally functional water resources, over 50 percent of which are located within highly drought stressed areas. The new Somali leadership has highlighted drought relief as a top priority. The peaceful and smooth transfer of power has allowed the government to focus quickly on drought and the difficult fiscal situation, highlighting the combined humanitarian and development challenges facing the country. The Humanitarian Response Plan presented at the London Conference in May 2017 increased the appeal to US$1.5 billion to reach 5.5 million people with urgent lifesaving humanitarian assistance. Still, per the UN (2017), the humanitarian situation remained grim for millions as of mid-2017 with a significant risk of famine in many parts of the country. 2017-09-05T21:57:08Z 2017-09-05T21:57:08Z 2017-07 Report http://documents.worldbank.org/curated/en/552691501679650925/Somalia-economic-update-mobilizing-domestic-revenue-to-rebuild-Somalia http://hdl.handle.net/10986/28112 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Nairobi Economic & Sector Work :: Economic Updates and Modeling Economic & Sector Work Africa Somalia |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
FOOD SECURITY ECONOMIC GROWTH ECONOMIC OUTLOOK MONETARY POLICY EXTERNAL IMBALANCE RISKS REVENUE TAXATION REFORM |
| spellingShingle |
FOOD SECURITY ECONOMIC GROWTH ECONOMIC OUTLOOK MONETARY POLICY EXTERNAL IMBALANCE RISKS REVENUE TAXATION REFORM World Bank Group Somalia Economic Update, July 2017 : Mobilizing Domestic Revenue to Rebuild Somalia |
| geographic_facet |
Africa Somalia |
| description |
Somalia currently faces large-scale food
insecurity, arising from the drought and poor rainfall
conditions prevailing across much of the country. Following
four consecutive seasons of poor rainfall and low river
water levels in large swaths of the country, a severe food
crisis has hit in 2017. The drought has led to near total
crop failures and reduced rural employment opportunities,
widespread shortage of water and pasture, and consequent
increases in livestock deaths, which have in turn stretched
the country’s coping mechanisms to the brink. Food access
diminished rapidly among poor households as staple food
prices rose sharply and livestock prices dropped
significantly as people engaged in forced sales to cope with
the effects of the drought. According to a preliminary Rapid
Drought Needs Assessment (RDNA) by World Bank staff, which
is based on a triangulation of secondary data1 through
remote-sensing techniques, the drought has led to:
livestock-related losses of between US$1.3 billion and
US$1.7 billion for the period of the drought; crop
production losses of up to US$60 million during the period
of the drought; and depletion of nominally functional water
resources, over 50 percent of which are located within
highly drought stressed areas. The new Somali leadership has
highlighted drought relief as a top priority. The peaceful
and smooth transfer of power has allowed the government to
focus quickly on drought and the difficult fiscal situation,
highlighting the combined humanitarian and development
challenges facing the country. The Humanitarian Response
Plan presented at the London Conference in May 2017
increased the appeal to US$1.5 billion to reach 5.5 million
people with urgent lifesaving humanitarian assistance.
Still, per the UN (2017), the humanitarian situation
remained grim for millions as of mid-2017 with a significant
risk of famine in many parts of the country. |
| format |
Report |
| author |
World Bank Group |
| author_facet |
World Bank Group |
| author_sort |
World Bank Group |
| title |
Somalia Economic Update, July 2017 : Mobilizing Domestic Revenue to Rebuild Somalia |
| title_short |
Somalia Economic Update, July 2017 : Mobilizing Domestic Revenue to Rebuild Somalia |
| title_full |
Somalia Economic Update, July 2017 : Mobilizing Domestic Revenue to Rebuild Somalia |
| title_fullStr |
Somalia Economic Update, July 2017 : Mobilizing Domestic Revenue to Rebuild Somalia |
| title_full_unstemmed |
Somalia Economic Update, July 2017 : Mobilizing Domestic Revenue to Rebuild Somalia |
| title_sort |
somalia economic update, july 2017 : mobilizing domestic revenue to rebuild somalia |
| publisher |
World Bank, Nairobi |
| publishDate |
2017 |
| url |
http://documents.worldbank.org/curated/en/552691501679650925/Somalia-economic-update-mobilizing-domestic-revenue-to-rebuild-Somalia http://hdl.handle.net/10986/28112 |
| _version_ |
1764466352845750272 |