Report Shows a Decrease in GDP Growth Rate

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According to a new World Bank Group Report, Ethiopia’s GDP growth rate will decrease by 1.3% in the current Fiscal year from last fiscal year’s 10.9% growth.

Official Statistics show that the country’s GDP growth rate averaged 10.3% for a decade.

Mathew Verghis, World Bank Practice Manager for Macroeconomics, Trade and Investment, said “We expect Ethiopia’s economy to remain stable in FY2018 and the medium term, provided that the government continues to implement appropriate macroeconomic policies and manage risks related to external debt, foreign exchange shortages, any future droughts or social unrest that could impact foreign direct investments and tourism.”

Ethiopia was the world’s fastest growing economy in 2017.

Source: EBC

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