TITLE:
A Literature Review: The Impact of COVID-19 Pandemic on Somaliland Economy
AUTHORS:
Abdiaziz Harun Mohamed
KEYWORDS:
Impact, Economy, Pandemic, COVID-19, Somaliland
JOURNAL NAME:
Open Journal of Social Sciences,
Vol.9 No.2,
February
7,
2021
ABSTRACT: COVID-19
pandemic has brought difficult situations for citizens of nations across the
world. The impact however, may be more
severe for others in the Third World Countries, who are in desperate situations
and whose conditions may well further deteriorate if not put into
considerations. While this pandemic affects different dimensions of life and
society in general, this paper examines the impact of the outbreak COVID-19
pandemic on Somaliland Economy and analyzes the
need for mitigation measures of this pandemic. The research methodology of this
paper reviews secondary data which were collected through various magazines, articles, newspapers and published journals. The study focuses on descriptive research design and the sample design
selected for this study which was illustrative. This study observed that COVID-19 is affecting the
Somaliland economy through loss of jobs and other incomes, gradual recession and deterioration of public financial and
private business sectors of the nation. The study discovers that for the
recovery of the economy, certain mitigation measures and
policy interventions must be administered, which includes health and social protection, fiscal
policy and financial, industrial and trade policies. Therefore, the expected
outcomes from administration of the
policy instruments would be reduction in
human suffering and the enhancement of the recovery of the economy from
bankruptcy and recession.