IMF foresees 8.5 percent economic growth for Ethiopia this fiscal year

IMF foresees 8.5 percent economic growth for Ethiopia this fiscal year

borkena
September 27,2018

IMF _ Ethiopia report

International Monetary Fund (IMF) forecasts 8.5 % economic growth for Ethiopia this fiscal year.

The multilateral financial institution says economic reforms introduced by Prime Minister Abiy Ahmed’s administration have stimulated the economy.

End of the conflict with Eritrea followed by normalization of relations, opening of government-owned enterprises for the private sector and the diplomatic efforts to resolve conflicts in the region will have a positive impact on the economy, IMF report added.

Yet, the organization warns unemployment and foreign debt could hamper the growth unless job creation measures are taken, according to a report by EBC which cited Reuters.

The growth rate for last year was 7.5 %, according to IMF.

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