Finance Minister Abdirahman Dualeh Beileh said the pandemic has harmed remittances from abroad and local businesses, meaning targets will not be met.
The minister did not give specific figures regarding the overall projected budget but said Somalia is experiencing an economic slowdown.
The country is among poor nations expected to benefit from the World Bank’s $14 billion package for emergency credit to companiesand response to the pandemic.
Mogadishu,
Somalia’s economy is facing a serious setback of low revenue collections owing to the novel coronavirus.
