Birr to dollar black market3/12/2024 However, agriculture was not significantly affected by the pandemic according to the World Bank. Among other factors, growth was led by capital accumulation, in particular, through public infrastructure investments. Ethiopia’s real gross domestic product (GDP) growth slowed down to 6.3% in FY2020/21 compared to the previous year’s historic growth due to COVID-19, with growth in industry and services easing to single digits. Over the 15 years until 2019, Ethiopia’s economy had been amongst the fastest growing in the world at an average of 9.5 % per year. Heading into 2023, however, conditions appear to be emerging for the economy to possibly move away from a conflict mode and towards recovery and reconstruction. Economic Development Organizations (EDO)Įthiopia has a large domestic market with a total population of about 110 million people (2020), making it the second most populous country in Africa after Nigeria. After an intense period of COVID-19 pandemic and a prolonged and devastating civil conflict, the Ethiopian macro economy is finding itself in a difficult war-time footing, facing immense humanitarian and security costs, as well as a heavy toll in terms of lost social and physical infrastructure.Foreign Direct Investment Attraction Events.Facing a Foreign Trade AD/CVD or Safeguard Investigation?.
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