Ethiopia's economy is projected to grow 7.5 percent, the International Monetary Fund (IMF) said yesterday at a press briefing on Regional Economic Outlook of sub-Saharan Africa 2013 and macroeconomic developments and policies in Ethiopia.

IMF Resident Representative Jan Mikkelsen said that in recent years, economic growth in Ethiopia has been robust.

“The investment requirements of the GTP are large and securing financing remains a challenge and continues to crowd out credit to the private sector. While there recently has been some positive news on private sector participation in the economic development, including in the power sector, the scope for private sector activity remains broadly constrained.” Mikkelsen said.

With regards to the Regional Economic Outlook for sub-Saharan Africa, Mikkelsen said, economic growth is projected to remain robust at 5 per cent in 2013 and 6 per cent in 2014 and inflation is expected to decline further to 6.8 per cent in 2013 and 5.8 per cent in 2014.

Source: Ethiopian Herald