Ethiopia’s Poverty Index Shows Improvement

Jul 13 , 2019

The 2019 global Multidimensional Poverty Index (MPI) shows that 83.8pc of the Ethiopian population live in multidimensional poverty. The MPI is a detailed poverty level indicator that considers how people experience poverty every day. People living in multidimensional poverty are at least deprived in one of the three indicators such as health, education or living standards. The report was prepared by the United Nations Development Programme in collaboration with the Oxford Poverty & Human Development Initiative and was released last week at Radisson Blue Hotel. The report covers 101 countries encompassing 5.7 billion people, which is nearly 76pc of the global population. Out of this the report covers 99pc of the Sub-Saharan Africa population. Ethiopia witnessed an improvement in its Multidimensional Poverty Index and one of the largest absolute declines compared with its starting point, with improvements seen in all ten of the indicators that make up the index, according to the report. The report also stated that the Ethiopian population in severe multidimensional poverty stretches to 61.8pc, while the population living below the income poverty line with a daily income of 1.9 dollars is 26.7pc.


Industrial Park Garners $10m from Free Trade Zone

A report from the Industrial Parks Development Corporation (IPDC) has revealed that over 10.7 million dollars (half a billion Birr) has been gained from the Dire Dewa Free Trade Zone in the last fiscal year. The development of FTZs is one of the major economic initiatives set as part of Ethiopia's 10-year perspective development plan. Officials disclosed that efforts to bring logistics and trade sectors into the free trade zone are in the pipeline. Located 445Km east of the capital, Dire D...


Chinese Institution Covets Bamboo Development

Ethiopia aspires to develop the bamboo industry through technology, research, and training partnering with China's Nanjing Forestry University last week. Officials at the Ethiopian Forestry Development said that the industry remains underdeveloped considering the large resources available with 1.47 million hectares of bamboo forest. Average exports of bamboo products only accounted for 0.02pc of global exports, proving that the country has not used it even to its minimal potential. Accordi...


Fuel Prices Go High

Officials at the Ministry of Trade & Regional Integration have made an average three percent increase on the price of fuel, effective September 29, 2023. After only a month since the last adjustments were made, the statement from the Ministry indicates the price twig was necessary following an international oil market change. Following the adjustment, a litre of Benzine is 77.65 Br, up by 2.8 Br; a litte of Diesel goes for 79.75 Br,  while Kerosine is sold at 79.75 Br which increased by...