Hargeisa — The Somaliland Cabinet has discussed the potential economic impact of the ongoing conflict in the Middle East during its latest meeting.
The Minister of Trade and Tourism, Abdirahman Hassan Nur, briefed the council on the situation and its possible effects on the national economy, particularly on the prices of essential goods and fuel.
The minister warned that tensions surrounding key maritime routes and major oil-producing countries could trigger a rise in global fuel prices and increase shipping costs, which may in turn affect the prices of imported goods in Somaliland.
He added that the Ministry of Trade, in coordination with a special task force appointed by the president, is closely monitoring developments in global markets, consulting with business leaders, and preparing measures aimed at stabilizing local markets and preventing inflation.
According to the minister, the government has already held meetings with local traders, urging them not to increase the prices of essential goods or fuel due to the current Middle East tensions.
Traders were encouraged to demonstrate national responsibility and help maintain market stability for the public. appointed by the president, is closely monitoring developments in global markets, consulting with business leaders, and preparing measures aimed at stabilizing local markets and preventing inflation.According to the minister, the government has already held meetings with local traders, urging them not to increase the prices of essential goods or fuel due to the current Middle East tensions.
Traders were encouraged to demonstrate national responsibility and help maintain market stability for the public.
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