Somalia: Is Runaway inflation a problem in Puntland?

Editorial:

Last night ( 5 May 2010 )Eastern Television Network (ETN) broadcast a programme (Women’s Issues@ n the role of women in Puntland.

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The programme gave viewers an insight into industriousness of Somali women and their role as bread-winners for families. All business women interviewed by ETN correspondent complained about run-away inflation. Increase in exchange rate, and sometimes sudden exchange rate falls affect the businesses of women who borrow from wholesalers in Bosaso. Other problems business women face is decreased purchasing power among Bosaso people.

One woman said she wished the Puntland government to address the inflation. What has Puntland government done about inflation? Several months after President Abdirahman Farole assumed Puntland presidential responsibility, his administration had set up Puntland Agency for Social Welfare ( Paswe ) with a mission to “ to improve the lives and uplift the dignity of the vulnerable groups in Puntland, such as orphans, street children, disabled people, and the mentally challenged groups.” Severe economic conditions make more people vulnerable to mental health problems and cause youngsters to resort to theft and other crimes such as robbery.

Puntland administration has passed the stage it could claim to be dealing with the legacy of the administration president Farole succeeded. It is now time to judge Farole administration on the basis of accomplishments rather than intentions.

©2010 Horseed Media.

Comments

  1. Mohamed says

    The Government has the main responsibility of controlling the inflation. But, also Puntland citizens should also take their part to control the inflation. They should give priority to buy the products of their own country not the export goods.specially food. Puntland has abundunt of food like meat,fish,corn,beans, fruits and vegetables. There is also goods manufactured in Puntland.The new Horseednet business data is encouraging,but they should add an inflation idex using a basket of consumer goods as an indicator of inflation level. Puntland people should learn not to spend un necessarily.

  2. jj says

    Blame game! Punt land goverment cannot control what article called “Runaway inflation”. I do not know the definition this term but the inflation problem is very common politically unstable countries. Image even countries with functioning goverments have a high inflation example Zimbabwe. So stop blame game as you, if you are punt land resident, do not pay “tax”. Where are the resources to pay welfare and control inflation! If you want all above problems solved you better to stop killing one-another in Bosaso streets.

  3. says

    the puntland state should carry out its duties to wards social awereness and emplement tangible points such as helping the poor people and cutting rate exchange ,reducing infaltion

  4. Econ Student says

    Hi Everyeno. If you keep people ignorant its easy to rule? not really, but I think that is the assumption of the administration. One thing that I contemplate many times is ” Economic activity”. The synic may say how this is related to the subject at hand. Well, if people are being well informed they will more or less make the right decision(s), since everything you do in life is an economic activity, including how you brush your teeth or choosing you first spouse. If economic data about Puntland is publicly available it will encourage people like myself to reconsider my stay in foreign land as long as the data is in my favour. Best of Luck

  5. ali says

    Not yet demogratic government in puntland .
    Faroole has promised the implementation of multiparty system in puntland so far , i dont’ see any progress made moving toward the multiparty system .
    The time has come for the people of puntland to stand up and get together to form political parties . I hope the next president will elected by the people and not the parliment .

  6. says

    The Puntland govt only collects taxes from the pple and we dont really know how it spends it.It doest have any plan to boost the economy or to alleviate the poverty that crippled the majority of the citizens.The people of puntland should be in a position to know how their taxes are spent.

  7. Farax says

    The administration should cut the public sector jobs. There shouldn’t be 2 deputies for each minister while they themselves have a couple of others.
    What do most of them do anyway? How does the Minister for Fisheries and Maritime regulate his position?

    With no resources and sources of income they shouldn’t be spending. Wait for the oil to break.