Somalia’s development bank chief has warned that recent U.S. aid reductions have had a “severe impact” on the nation’s economy.
She explained that the cuts to U.S. Agency for International Development (USAID) funding affected the economy in unexpected ways, reducing overall economic activity and lowering government sales tax revenues.
Earlier this year, U.S. President Donald Trump significantly reduced the country’s foreign aid budget and shut down USAID, which had previously supported health, education, and development programs around the world.
Osman noted that the consequences went beyond the loss of aid projects, saying, “It also had a severe impact just on the economy alone that we weren’t really thinking about.”
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Source:Africa Publicity
