FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds

Fortune Logo

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]

[ratemypost]


Related Posts

[ssba-buttons]

Put your comments here

N.B: A submit button will appear once you fill out all the required fields.

Editors' Pick

Exclusive Interviews

State Enterprises from Oracles to Apprentices

Dec 22 , 2024 . By TIZITA SHEWAFERAW

Charged with transforming colossal state-owned enterprises into modern and competitiv...

Agenda

Rising Costs, Inflation Threaten Insurance Industry

Aug 18 , 2024 . By AKSAH ITALO

Although predictable Yonas Zerihun's job in the ride-hailing service is not immune to...

Agenda

BREWING DISCONTENT

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...

Fortune News

Electric Vehicle Push Leaves Investors in the Lurch

Jul 13 , 2024 . By AKSAH ITALO

Investors who rely on tractors, trucks, and field vehicles for commuting, transporting commodities, and f...

Commentaries

The Smartest Hectare Planted with Roses

The export base is changing shape after decades in which the story was told in the st...

The Fourth Economy Ethiopia Refuses to Count

The economic thinking among Ethiopian policymakers and thinkers has long rested on a...

Fineline

Leaders of the National . . .

Leaders of the National Election Board are in a charm offensive mood, of a sort. Last week, they organised a rare tour for members of the me...

When the country’s most. . .

When the country's most senior diplomats and envoys return back to their posts after two-week debriefings, they leave behind a point or two...

Editorial

The Education Minister Celebrates the Wrong Numbers

Aug 28 , 2026

Every year, the Ministry of Education (MoE) sets a national examination. Every year,...

Exports Record Worth Having. They Worth More as a Beginning

Aug 22 , 2026

A record is a strange thing to worry about. Federal trade officials have booked the b...

Listen to the Poets Before Bulldozers Narrow Addis Abeba's Memory

Aug 14 , 2026

Aschalew Fetene, known as “Ardi” and admired for his poetic depth, has built a ti...

In Going Digital, the State Designs for the Citizen It Wants to Have

Aug 8 , 2026

The World Bank asks readers to picture a mother in rural Ethiopia who has never held...

Gallery

Parliament Approves New Cabinet Members

Oct 6 , 2021

Parliament Approves New Cabinet, Incorporates Opposition Leaders Lawmakers have approved today the nominations of 22 ministers, including three opposition leaders. Two MPs have voted against, while 12 abstained...

2020 in Posterity

Jan 5 , 2021

TIGRAY VOTES DESPITE "NULL & VOID" THREAT

Sep 9 , 2020

IN-PICTURE: LAUREATE'S RECEPTION  

Dec 14 , 2019

PM Abiy Ahmed (PhD) at a Gala Dinner Called for the Awarding of the Félix Houphouët-Boigny Peace Prize

May 6 , 2019

Faces, Voices of Addis Abeba

Apr 26 , 2019

Sunday With Eden

The Park We Build. The Fence We Put Inside It

Some things a city builds with concrete, steel and greenery. Some others, it builds i...

Get Good First, Let the Passion Follow

Over coffee not long ago, a conversation about youth employment took an unexpected tu...

Life Matters

What a Money-Back Guarantee Really Sells

The idea of a refund has always fascinated me, less as a customer-service courtesy th...

Hyper-Connected. Rarely Together

A few days ago, a quiet realisation stopped me in my tracks. I had not seen one of my closest friends in nearly a year. It sounds absurd...