# National Economic Council of Somalia (NEC): what it does

> What Somalia's National Economic Council does: economic advice to the President, research and the National Economic Situation Report; who sits on it and who leads it; and how it relates to the planning and finance ministries.

Source page: https://calankii.com/en/institutions/national-economic-council/
Last checked: 2026-11-12
Publisher: Calankii (https://calankii.com)

## What it does

The NEC "was initially established by the Federal Republic of Somalia in 2018, and was restructured in November, 2022 through a presidential decree". It is "a key component of the Office of the President responsible for providing advisory services on economic matters" ([National Economic Council, About](https://nec.gov.so/about-us/)). The Ministry of Planning describes the NEC, with the statistics bureau, as one of the "arm's length" bodies it spun off so that they could work at a distance from the ministry ([Ministry of Planning, The Ministry](https://mop.gov.so/about/the-ministry/)).

Its listed functions include ([NEC, Functions](https://nec.gov.so/about-us/functions/)):

- giving economic advice to the President and the members of the political council;
- researching economic trends for policy-makers and investors;
- helping align the economic policies and plans of the federal government and the member states;
- helping the government meet the conditions attached to foreign financial assistance;
- advising on regional and international economic and trade agreements;
- holding conferences twice a year and commissioning research from Somali and international experts.

## Who sits on it

The President of the Federal Government chairs the council, and the Prime Minister is deputy chair. Its members are the economic sub-committee of the cabinet, the Governor of the Central Bank, the Federal Member States and nine national economic experts. A team of National Economic Advisers does its research and advice ([NEC, About](https://nec.gov.so/about-us/)).

**Dr Hassan Aden Hoosow**, economic adviser to the President, chairs the council's work and announced its third National Economic Situation Report in December 2025 ([Radio Dalsan, December 2025](https://radiodalsan.com/news/298566/somalia-releases-third-national-economic-situation-report)).

## What it publishes

- **National Economic Situation Report:** a yearly report on the state of the economy; the third edition came out in December 2025 (same source).
- **Climate and the economy:** it has commissioned a national study, "Economic Resilience Under Climate Pressure: A National Diagnostic for Somalia" ([terms of reference, via the National Bureau of Statistics](https://nbs.gov.so/wp-content/uploads/2026/01/TOR_Climate-Resilience-and-Disaster-Economics-Assessment.pdf)).

## Other estimates of the economy

The NEC's numbers sit next to those of other bodies. The World Bank estimated growth of about 3 percent in 2025, down from about 4 percent in 2023 and 2024 ([World Bank, 13 May 2026](https://www.worldbank.org/en/news/press-release/2026/05/13/somalia-growth-continues-but-shocks-and-aid-cuts-intensify-risks-to-jobs-and-livelihoods)), and the government reported 3.1 percent ([Dawan Africa](https://www.dawan.africa/news/somalias-economy-grew-31percent-in-2025-as-domestic-revenue-hits-dollar404m-report)). See [Economy at a glance](/en/economy/economy-at-a-glance/) and [GDP and national accounts](/en/data/gdp-national-accounts-2018-2024/).

## The money

The federal budget has no separate line for the NEC. The Office of the Presidency, which the NEC says it is part of, had a budget of US$12.4 million in 2026 ([Appropriation Act for 2027, as submitted](https://mof.gov.so/storage/documents/2026/11/xihvtskp/Appropriation%20Act%20for%202027%20Submitted%20to%20Parlement.pdf)).

## Its legal basis

The presidential decree of November 2022 that restructured it ([NEC, About](https://nec.gov.so/about-us/)).

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