MOGADISHU, Oct. 28 (Xinhua) -- The World Bank said Wednesday Somalia's economy is projected to contract by 1.5 percent in 2020 due to negative impacts of COVID-19, the locust infestation and extreme flooding, down from earlier estimates of 3.2 percent before the pandemic.
The latest World Bank Somalia Economic Update says COVID-19 has impacted all sectors of the economy, leading to declines in revenue for both federal and state governments.
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