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Ethiopia's economy is to grow 7 percent a year over the next three to five years, the World Bank forcasted. The growth is below its average of the last decade, and to push that rate higher, the government needs to change policy to encourage private investment, the Bank said.

"We still think growth could be robust - in the order of 7 percent in the medium term would not be unexpected," said Lars Christian Moller, the bank's lead economist in Ethiopia, in an interview with Reuters.

Ethiopia is to delay the implementation date of the universal health insurance law for six months which was scheduled to be started this August. 
The delay was attributed to lagging behind in setting up legal frameworks and operational manuals, and staffing, Fortune reported quoting an expert with the Ethiopian Health Insurance Agency.

The postponement has been communicated to all public institutions in a circular two weeks ago.

Ethiopia's Nib Bank, together with its sister company, Nib Insurance has awarded China Railway Engineering Group for construction of a 35 storey headquarters building.  
China Railway Engineering Group is already involved in several projects in Ethiopia, prominently the Ethio-Djibouti railway construction project.

The Ethiopian Privatization and Public Enterprises Agency is planning to transfer 20 state owned enterprises to the private sector in the current Ethiopian Fiscal Year, Fortune reported.

The Agency is re-tendering Ghion Hotel, Agricultural Mechanization Services Enterprise, Transport Construction Design S.C, Artistic Printing Enterprise, and Weyra Transport S.C.