Somalia Country Economic Memorandum : Towards an Inclusive Jobs Agenda

Somalia has a triple challenge of low levels of labor force participation, low productivity, and high levels of poverty. Economic growth in Somalia has been low, subject to shocks; and thus, insufficient for job creation. Shocks to the economy have...

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Main Author:	World Bank
Format:	Report
Language:	English
Published:	World Bank, Washington, DC 2021
Subjects:	JOB CREATION ECONOMIC GROWTH POLICY MAKING PRODUCTIVITY GROWTH DRIVERS REGIONAL TRADE TRADE INTEGRATION FOOD SECURITY ENTREPRENEURSHIP ROAD NETWORK
Online Access:	http://documents.worldbank.org/curated/en/474611625138312966/Somalia-Country-Economic-Memorandum-Towards-an-Inclusive-Jobs-Agenda http://hdl.handle.net/10986/35943

id	okr-10986-35943
recordtype	oai_dc
spelling	okr-10986-359432021-09-29T05:10:48Z Somalia Country Economic Memorandum : Towards an Inclusive Jobs Agenda World Bank JOB CREATION ECONOMIC GROWTH POLICY MAKING PRODUCTIVITY GROWTH DRIVERS REGIONAL TRADE TRADE INTEGRATION FOOD SECURITY ENTREPRENEURSHIP ROAD NETWORK Somalia has a triple challenge of low levels of labor force participation, low productivity, and high levels of poverty. Economic growth in Somalia has been low, subject to shocks; and thus, insufficient for job creation. Shocks to the economy have contributed to forced displacement, a dominance of jobs outside of agriculture, and rapid urbanization. The Somali economy is largely driven by consumption and supported by external financial flows. In Somalia’s state-building context, enhancing political stability and developing a social contract is fundamental for growth. The objective of the Somalia Country Economic Memorandum (CEM) is to inform the economic policy dialogue and broader debate in Somalia regarding the types of reforms required to stimulate growth and job creation. The Somalia CEM applies and adapts the Jobs and Economic Transformation (JET) Framework. The JET framework has two pillars, one which considers job-creating private investments, and the second that concerns building the capabilities of workers. In the Somali context, efforts have been made to incorporate a gender and inclusion lens, given the particularly low levels of female labor force participation. The report has two special focus chapters on trade and integration and entrepreneurship, due to their importance to growth and jobs in the Somali economy. However, a detailed value chain analysis goes beyond the scope of this report. The report utilizes available quantitative data, primary research conducted for the study, and builds on earlier work. The report considers both the structure of today’s economy and the source of jobs, as well as potential future drivers of growth. 2021-07-16T15:43:16Z 2021-07-16T15:43:16Z 2021-07-01 Report http://documents.worldbank.org/curated/en/474611625138312966/Somalia-Country-Economic-Memorandum-Towards-an-Inclusive-Jobs-Agenda http://hdl.handle.net/10986/35943 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work :: Country Economic Memorandum Economic & Sector Work Africa Africa Eastern and Southern (AFE) Somalia
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	JOB CREATION ECONOMIC GROWTH POLICY MAKING PRODUCTIVITY GROWTH DRIVERS REGIONAL TRADE TRADE INTEGRATION FOOD SECURITY ENTREPRENEURSHIP ROAD NETWORK
spellingShingle	JOB CREATION ECONOMIC GROWTH POLICY MAKING PRODUCTIVITY GROWTH DRIVERS REGIONAL TRADE TRADE INTEGRATION FOOD SECURITY ENTREPRENEURSHIP ROAD NETWORK World Bank Somalia Country Economic Memorandum : Towards an Inclusive Jobs Agenda
geographic_facet	Africa Africa Eastern and Southern (AFE) Somalia
description	Somalia has a triple challenge of low levels of labor force participation, low productivity, and high levels of poverty. Economic growth in Somalia has been low, subject to shocks; and thus, insufficient for job creation. Shocks to the economy have contributed to forced displacement, a dominance of jobs outside of agriculture, and rapid urbanization. The Somali economy is largely driven by consumption and supported by external financial flows. In Somalia’s state-building context, enhancing political stability and developing a social contract is fundamental for growth. The objective of the Somalia Country Economic Memorandum (CEM) is to inform the economic policy dialogue and broader debate in Somalia regarding the types of reforms required to stimulate growth and job creation. The Somalia CEM applies and adapts the Jobs and Economic Transformation (JET) Framework. The JET framework has two pillars, one which considers job-creating private investments, and the second that concerns building the capabilities of workers. In the Somali context, efforts have been made to incorporate a gender and inclusion lens, given the particularly low levels of female labor force participation. The report has two special focus chapters on trade and integration and entrepreneurship, due to their importance to growth and jobs in the Somali economy. However, a detailed value chain analysis goes beyond the scope of this report. The report utilizes available quantitative data, primary research conducted for the study, and builds on earlier work. The report considers both the structure of today’s economy and the source of jobs, as well as potential future drivers of growth.
format	Report
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Somalia Country Economic Memorandum : Towards an Inclusive Jobs Agenda
title_short	Somalia Country Economic Memorandum : Towards an Inclusive Jobs Agenda
title_full	Somalia Country Economic Memorandum : Towards an Inclusive Jobs Agenda
title_fullStr	Somalia Country Economic Memorandum : Towards an Inclusive Jobs Agenda
title_full_unstemmed	Somalia Country Economic Memorandum : Towards an Inclusive Jobs Agenda
title_sort	somalia country economic memorandum : towards an inclusive jobs agenda
publisher	World Bank, Washington, DC
publishDate	2021
url	http://documents.worldbank.org/curated/en/474611625138312966/Somalia-Country-Economic-Memorandum-Towards-an-Inclusive-Jobs-Agenda http://hdl.handle.net/10986/35943
_version_	1764484096577241088

Somalia Country Economic Memorandum : Towards an Inclusive Jobs Agenda

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