Viewpoints | Sep 28,2019
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]
Viewpoints | Sep 28,2019
Obituary | Dec 05,2020
Sponsored Contents | Mar 03,2022
Viewpoints | Jul 01,2023
Commentaries | Mar 25,2023
Sunday with Eden | Apr 06,2019
Sunday with Eden | Jul 27,2019
Advertorials | Jun 05,2023
Featured | Jan 02,2021
Commentaries | Jul 03,2021
Dec 24 , 2022
Biniam Mikru heads the department of cabinet affairs under Mayor Adanech Abiebie. But...
Jul 2 , 2022 . By RUTH TAYE
On a rainy afternoon last week, a coffee processing facility in the capital's Akaki-Qality District was abuzz with activ...
Nov 27 , 2021
Against my will, I have witnessed the most terrible defeat of reason and the most sa...
Nov 13 , 2021
Plans and reality do not always gel. They rarely do in a fast-moving world. Every act...
Dec 2 , 2023
The symphony of traffic noise in Addis Abeba is not just a sign of life, but a siren...
Nov 25 , 2023
Ethiopia's quest to develop a functioning capital market is a demanding yet not unach...
Nov 18 , 2023
Prime Minister Abiy Ahmed (PhD) has made a fervent call for landlocked Ethiopia to ga...
Nov 11 , 2023
In November last year, a ray of hope pierced the gloomy skies of Ethiopia as the Pret...
Loading your updates...