Fortune News | Dec 21,2019
May 1 , 2021
Dubbbed “Ensuring Resilient Recovery from COVID-19,” the update cites that the employment rate in rural areas has recovered to pre-COVID levels, while the rate in urban areas is still lagging behind, albeit only slightly. Ethiopia's economy recovers from the impacts of COVID-19 despite a fall in foreign direct investment and a slight decline in export proceeds, reads the latest economic update from the World Bank (WB).
Dubbbed “Ensuring Resilient Recovery from COVID-19,” the update cites that the employment rate in rural areas has recovered to pre-COVID levels, while the rate in urban areas is still lagging behind, albeit only slightly.
The increase in service exports, which had been falling during the earlier days of COVID-19, and the soar in remittance flow have contributed to the recovery of Ethiopia's economy, the Bank noted.
Miguel Eduardo Sánchez Martín, World Bank senior country economist and lead author of the report, finds these outcomes are "a good indication that the Ethiopian economy is starting to recover from the COVID-19 crisis."
The economist, however, warned that "recovery may be uneven" with the surge in the number of new infections in February and March 2021.
Over a year into the pandemic, Ethiopia has so far reported more than a quarter of a million cases, while one million people have taken the first doses of the AstraZeneca and Sinopharm vaccines.
PUBLISHED ON
May 01,2021 [ VOL
22 , NO
1096]
Fortune News | Dec 21,2019
Editorial | Mar 05,2022
Viewpoints | Jan 05,2019
News Analysis | Mar 14,2026
Commentaries | Apr 17,2021
Commentaries | Jul 05,2025
Commentaries | Jul 03,2021
Editorial | May 25,2024
Commentaries | Dec 20,2025
Digital First | Mar 13,2020
Dec 22 , 2024 . By TIZITA SHEWAFERAW
Charged with transforming colossal state-owned enterprises into modern and competitiv...
Aug 18 , 2024 . By AKSAH ITALO
Although predictable Yonas Zerihun's job in the ride-hailing service is not immune to...
Jul 28 , 2024 . By TIZITA SHEWAFERAW
Unhabitual, perhaps too many, Samuel Gebreyohannes, 38, used to occasionally enjoy a couple of beers at breakfast. However, he recently swit...
Jul 13 , 2024 . By AKSAH ITALO
Investors who rely on tractors, trucks, and field vehicles for commuting, transporting commodities, and f...
May 30 , 2026
Tomorrow, millions of Ethiopians are expected to vote in the seventh national electio...
May 23 , 2026
An International Monetary Fund (IMF) team has spent weeks in Addis Abeba conducting t...
May 16 , 2026
The federal budget tells a troubling story about inflation, debt and reform. The prob...
May 9 , 2026
The Ethiopian state appears to have discovered a fiscal instrument that is politicall...
Loading your updates...