Economy
In October 2008, the daily labor rate was estimated at 157,500 Somali shillings (approximately $4.50), up from 52,000 shillings (approximately $2.21) in January 2008, while kilogram of red rice rose from 14,170 (approximately $0.61) to 46,000 (approximately $1.31). A liter of diesel cost 43,000 shillings (approximately $1.23) and a camel costs over 15 million shillings (approximately $435). Total cereal production as of 2008 was estimated to be 780MT.
Before the war, there were a meat-tinning factory, as well as a tannery, and a modern fish factory. There were also two sugar refineries, one at Jowhar and another situated near Jilib. As of January 2007, the market was bustling, although the city's infrastructure had incurred considerable damage.
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Famous quotes containing the word economy:
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)