Djibouti’s Dawaleh talks economic performance, strategy & priorities
After taking hit from global trade slowdown, Djibouti's economy grew at 6.7 per cent in 2023 and is expected to grow at 5.1 per cent in 2024 as per World Bank. CNBC Afriica’s RIdhima Shukla spoke to Ilyas Moussa Dawaleh, Minister Of Economy, Finance, and Planning, Djibouti.
Mon, 13 May 2024 15:06:31 GMT
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AI Generated Summary
- Djibouti's resilient economy driven by a liberal model and currency board system has helped mitigate external shocks and maintain stability amidst global challenges like COVID-19 and the conflict in Ukraine.
- In 2024 and beyond, Djibouti is strategically shifting towards a more diversified economy, focusing on sectors like the blue economy, digital hub, and maritime activities to leverage its geographical advantages and infrastructure capabilities.
- Djibouti is actively pursuing regional integration and trade agreements within Africa to enhance connectivity and facilitate trade, positioning itself as a key player in bridging the gap between the continents of Asia and Africa.
Djibouti, a small but strategically located country in the Horn of Africa, has weathered global economic challenges and is now poised for significant growth and diversification in 2024. Minister Of Economy, Finance, and Planning, Ilyas Moussa Dawaleh, recently discussed the country's economic performance, strategy, and priorities in an exclusive interview with CNBC Africa. Despite facing external shocks from events like COVID-19 and the conflict in Ukraine, Djibouti's economy has remained resilient, with a growth rate of 6.7 per cent in 2023. The World Bank projects a steady growth rate of 5.1 per cent for 2024. The key themes of the interview centered around Djibouti's economic model, its shift towards a more diversified economy, and its role in regional trade and connectivity.
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