Mogadishu(Mogadishu24)-The President of the Federal Republic of Somalia, Hassan Sheikh Mohamud, expressed optimism about the positive impact of debt relief on Somalia’s future progress during a public engagement session held on Wednesday night.

In the session named ‘Minbar,’ the President addressed various topics, including Somalia’s economic growth, efforts against Al-Shabaab, ATMIS withdrawal, cooperation between the Federal Government and Federal member states, international relations, and achievements in debt relief and admission to the East African Community.

President Mohamud highlighted a notable 14% growth in the economy for the year 2023, expressing the Government’s aim to achieve a 22% growth in the coming year. He affirmed the government’s commitment to sustaining the reform momentum post-debt relief, focusing on building resilience, promoting inclusive growth, and reducing poverty.

He stated that this growth is expected to work hand in hand with efforts to reduce poverty rates from 69% to 54%.

The President highlighted the imperative of a long-term vision for a nation’s development in Vision 2060 despite potential challenges.

“The development of a country must have a long-term vision. As we mentioned, in the current and upcoming years, we may not fully overcome the existing challenges. That’s why we introduced Vision 2060. We have to make decisions on how Somalia will look thirty-seven years from now,” President Mohamud said.

He further reiterated the government’s commitment to the completion of the constitution, stating that the completion of the constitution would serve the interests of the Somali people.

“The constitution’s drafting process has encountered numerous delays and has gone through various parliamentary sessions, facing time constraints in the process. We are committed to completing the constitution and ensuring that the administration’s term will not end before completing the constitution, which serves the aspirations of the Somali people,” he said.

Earlier this month, the Federal Government of Somalia reached a significant milestone as it achieved the Heavily Indebted Poor Countries (HIPC) Initiative Completion Point, resulting in a remarkable debt relief of $4.5 billion.

Somalia was also admitted to the East African Community by the EAC Heads of States at the 23rd Ordinary Summit held in Arusha, Tanzania.