Poverty in Somalia
Economics is a field which has its recognition in almost every walk of life, merely due to its different thought provoking concepts. Among numerous concepts of economics, the name of “Poverty” is one of them, which has emerged as gangrene for the current society. Theoretically, the term Poverty represents the scarcity or dearth of a specific state which lacks a certain amount of material possessions or the money. There are numerous countries of the world which have been identified as “Poor countries” and Somalia is found on the same list. The main perspective of this analysis is to pen down about “Poverty in Somalia”
Somalia with an official name of Federal Republic of Somalia is a country located in the Horn of Africa, with having a longest coastline on the mainland. The citizen of the country is spending a tough life with high population and low Purchasing Power Parity (PPP) and per capita income (PCI). The total Gross Domestic Product of the country recorded in the fiscal year 2010 was amounting to US$ 5.896 billion with per capita income of only US$ 600.
One of the major reasons behind the high amount of poverty in Somalia is the presence of major obstacles in the development and civil conflict of the country. Lack of central government functioning and unanticipated natural climates are some of the major problems which pampered the nation to not to grow economically and compete with the world. According to the estimation, nearly 43% of the population of Somalia lives under extreme poverty in urban areas, while the proportion of people is 53% who lives in the same situation in rural areas.
Agriculture is the only medium through which the country can earn money and to sustain its economy, however this sector is also on the mercy of natural climate. Apart from this sector, Livestock is yet another important medium for the citizens of Somalia to live their life, as over 60% of the population of the country depends directly on the livestock for their food and income. Due to these challenges, extreme poverty and miserable life style has become widespread for the country with large number of people are still unable to meet the requirement of basic foods. Fatal Diseases and unchecked raged, caused deaths of over 1 million people and damaged roads as well as infrastructure makes it extremely difficult to deliver the assistance of humanitarian.
The country is in desperate need of an effective and strong government who can life up the economic consequences of the company with their effective decision making and policies, and unfortunately, this is the only way from which the country can overcome on the monster of Poverty.
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