Political crisis slows Somalia's economic growth to 3%, World Bank says

MOGADISHU, May 16 - Somalia's economic growth has slowed down significantly to around 3%, according to a recent World Bank report cited by Al Jazeera, triggering widespread concern among policymakers and citizens.

Economists attribute the sharp deceleration directly to the mounting political uncertainty gripping the Horn of Africa nation, as a bitter standoff among key political stakeholders threatens national stability.

The prolonged political impasse has severely dented investor confidence and stalled vital international development projects, experts say.

Somalia has been mired in a constitutional crisis following the expiration of the presidential mandate and the subsequent collapse of consensus-building talks in the capital, fueling fears of instability that could further derail the fragile economy.

GAROWE ONLINE