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Ethiopia’s economy may double in size over the next nine years, African Development Bank Chief Economist Mthuli Ncube said in a speech in Johannesburg today. Ncube predicted that Ethiopia’s economy mig

ht expand 10 percent this year and East Africa would expand by about 6.7 percent in 2011 and 2012.

Ncube’s prediction stands in contrast to the International Monetary Fund’s (IMF) prediction, made on 30 May 2011, of lower economic growth at 6 percent for Ethiopia in the 2011/12 fiscal year.

Ethiopia's National Macroeconomic Council, chaired by the Prime Minister, announced that Ethiopia's economy is expected to grow by 6.6 percent this year, showing a slight increase.

Ethiopian Electric Power (EEP) has signed an agreement with Kurmuk Gold Mine Private Limited Company (Kurmuk PLC) to supply electricity for the mining company's operations. The agreement was formalized in a signing ceremony attended by EEP's Chief Executive Officer, Engineer Ashebr Balcha, and the General Manager of Kurmuk PLC, Broks Worku.

The Ethiopian Electric Power Corporation Board has approved the launching of the first phase of the Aysha I wind farm project in the Somali Regional State, according to information obtained from the Ethiopian Ministry of Foreign Affairs website.

Construction of the project, split into three phases, will begin soon. The first phase will be carried out by the Chinese Company, Dongfang Wind, and is expected to produce 120MW of energy when completed.

Ethiopian Electric Power (EEP) has reported earning more than USD 31.5 million from electricity exports to neighboring countries in the first quarter of the current fiscal year. CEO Ashebir Balcha highlighted the company’s commitment to meeting the growing regional demand for electricity while improving power development, accessibility, and regional cooperation.