Ethiopia’s economy could see an 8% growth rate in Gross Domestic Product in 2012 and 2013 according to the United Nations Report on Global Economic Situation and Prospects 2012. The Ethiopian Government expects 11% growth rate during the same period.
African countries, including Ethiopia, will see growth in the face of a faltering world economy said Adam Elhirka the United Nations Chief of Macro Economic Analysis.
Economic growth in Ethiopia will be seen in infrastructure development and in the energy sector in particular he said. It is expected that economic growth will make up for the adverse effects wrought by drought on agricultural output in some areas according to Elhirka.
The top countries leading in international GDP growth are in Africa including Ethiopia, Angola, Niger, Rwanda and Libya explained Elhirka.Economic development in Africa has been supported by improved governance and macro economic management he noted.
Ethiopia, Angola, Egypt, Nigeria and South Africa, Kenya and Tunisia have registered notable GDP growth on the African continent according to the UN report. It is expected that the share of emerging economies in global investment will grow in Africa.
Source: Ethiopian Herald
