Federal government: ministries and agencies
National Economic Council of Somalia (NEC): what it does
The National Economic Council advises Somalia's President on the economy. The President chairs it, the Prime Minister is deputy, and its members include the cabinet's economic ministers, the Central Bank governor, the member states and nine national economic experts. Set up in 2018 and restructured by presidential decree in November 2022, it publishes a yearly National Economic Situation Report.
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). 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).
Its listed functions include (NEC, 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).
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).
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).
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), and the government reported 3.1 percent (Dawan Africa). See Economy at a glance and GDP and national accounts.
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).
Its legal basis
The presidential decree of November 2022 that restructured it (NEC, About).
Sources
- National Economic Council, About · nec.gov.so
- Ministry of Planning, The Ministry · mop.gov.so
- NEC, Functions · nec.gov.so
- Radio Dalsan, December 2025 · radiodalsan.com
- terms of reference, via the National Bureau of Statistics · nbs.gov.so
- World Bank, 13 May 2026 · worldbank.org
- Dawan Africa · dawan.africa
- Appropriation Act for 2027, as submitted · mof.gov.so
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Where this matters
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- The Federal Government of Somalia: how it is organisedHow Somalia's federal government is built: its history since 2012, its branches, ministries, agencies and independent offices, how it relates to the member states, its staff and budget, and where to find each part.
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