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The World Bank estimates that remittances worth approximately US$1 billion reach Somalia annually from émigrés working in the Gulf states, Europe and the United States. Analysts say that Dahabshiil may handle around two-thirds of that figure and as much as half of it reaches Somaliland alone. [15] Pizza Hut Somaliland Opened in Central ...
The United States engages Somaliland on policy matters such as democratization and economic development. In 2023, the United States provided $1,000,000 in aid through the International Republican Institute to support training for parliamentarians and other key programs in preparations for the 2024 Somaliland presidential election.
The United Nations Statistics Division reports a GDP figure of $1.306 billion for 2012, compared to $2.316 billion in 2005 and $1.071 billion in 2010. [ 21 ] According to the Central Bank of Somalia, sometime in the 2000s the country's GDP per capita according to the World Bank was $230, a slight reduction in real terms from 1990. [ 10 ]
The United States has continued to be one of the main suppliers of armaments to the Somali National Army (SNA). In June 2009, the reconstituted SNA received 40 tonnes worth of arms and ammunition from the U.S. government to assist it in combating the Islamist insurgency within southern Somalia. [15]
However, the United States merely acknowledged Somaliland's independence: The United States did not extend formal recognition to Somaliland, but Secretary of State Herter sent a congratulatory message dated June 26 to the Somaliland Council of Ministers. [3] United States Secretary of State Christian Herter sent the following letter: June 26, 1960
The United States has a highly developed mixed economy. [44] [45] [46] It is the world's largest economy by nominal GDP and second largest by purchasing power parity (PPP). [47]As of 2024, it has the world's sixth highest nominal GDP per capita and eighth highest GDP per capita by PPP). [10]
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The State of the Nation (Somali: Khudbad Sannadeedka Madaxweynaha, Arabic: محاضرة حالة الدولة), is a speech made annually by the President of Somaliland at a joint session of the Parliament (House of Representatives and House of Elders). It covers the economic, social, and financial state of the country. [1] [2] [3]