Ethiopia GDP forecast to grow 10.8% in 2019/20 -central bank


Ethiopia GDP forecast to grow 10.8% in 2019/20 -central bank
Ethiopia GDP forecast to grow 10.8% in 2019/20 -central bank

Ethiopia’s economy is expected to grow at a faster pace in its 2019/20 fiscal year from the previous year, helped by improvements in its financial sector, its central bank said.

The economy is expected to expand by 10.8% in the fiscal year to July 8, up from 9% in the previous year, the bank said in its 2018/19 annual report seen by Reuters on Tuesday.

“The economic prospects for 2019/20 are envisaged to be positive despite some down side risks related to export commodity price shocks and temporary inflation pressure,” it said.

The bank said a raft of economic reforms launched recently were expected to lead to a more vibrant financial system.

Ethiopia’s Prime Minister Abiy Ahmed, who took office in 2018, has launched an ambitious economic reform drive aimed at opening up one of Africa’s fastest-growing but most closed economies.

It has started the process of privatising its telecoms, banking and sugar sectors.

Inflation stood at 19.5% year-on-year in December from 20.8% a month earlier.

(Source : Reuters)


Like it? Share with your friends!

What's Your Reaction?

hate hate
0
hate
confused confused
0
confused
fail fail
0
fail
fun fun
0
fun
geeky geeky
0
geeky
love love
0
love
lol lol
0
lol
omg omg
0
omg
win win
0
win
Solomon Yimer

0 Comments

Your email address will not be published. Required fields are marked *

Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Countdown
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format