IMF Projects 3.8pc GDP Growth


IMF Projects 3.8pc GDP Growth

The International Monetary Fund (IMF) has projected that Ethiopia's economy will grow by 3.8pc this year. The figure was published in its revised macroeconomic outlook released last week. The revision was made to factor in the impacts of the Russia-Ukraine war, which began in February this year. The report underlines that the war will set back economic recovery. In its previous projections, Ethiopia was among a few countries omitted due to "an unusually high degree of uncertainty." Various forecasts done by different institutions say the country's GDP would grow by one to eight percent. On its part, the federal government forecasts an eight percent growth this year. Last year, the IMF projected Ethiopia's GDP would grow by two percent, however, the government reported a 6.3pc growth was registered. The IMF report also projects a slightly higher 5.7pc growth for 2022.

[ssba-buttons]

Radar

Fresh Push to Help Farmers Get Covered & Cash In

The Ministry of Agriculture has established the Rural Finance Service Unit (RFSU) to coordinate and expand agricultural insurance nationwide. Announced on Tuesday at the 2025 UNDP Financial Resilience in Agriculture Community of Practice forum (held at the UN Economic Commission for Africa headquarters), the RFSU is supported by UNDP, JICA, and other partners with funding from the Bill & Melinda Gates Foundation. Agriculture Minister Girma Amente (PhD) and State Minister Sofia Kassa attended...


Radar

Mission 300 Gains Momentum as Ethiopia Charts Path to Energy Equity

The Government has developed a National Energy Compact with the goal of achieving universal electricity access by 2030. The strategy, led by the Ministry of Water & Energy (MoWE), outlines Ethiopia's commitment to reaching 100pc energy access for its population within the next five years. According to State Minister for Energy Development Sector Sultan Woli, the compact was prepared in collaboration with key development partners, including the World Bank Group and the African Development...


Radar

Rammis Bank Commences Mobile Application, Card Banking Services

Rammis Bank has launched its mobile banking application and card services as part of its digital expansion drive. The "Rammis Mobile App" was officially introduced during a launch event held on Saturday at the Grand Eliana Hotel. The app allows users to transfer funds at any time, pay bills, top up mobile airtime, and send money to telebirr wallets for themselves or others. The newly introduced card service enables customers to withdraw cash from any ATM and make payments via Point of Sale (P...