Ministry Projects 8.5pc Growth in GDP Next Year

Jun 14 , 2020

The Ministry of Finance has projected that Ethiopia's economy will grow by 8.5pc in the next fiscal year. Ahmed Shide, the minister of Finance, explained to the members of parliament that the growth is expected despite the impact of the Novel Coronavirus (COVID-19) pandemic. During the session, he tabled the budget bill to the parliament and also explained that the government expects the inflation rate in the coming fiscal year to be 9.8pc. This is despite the 19.8pc inflationary pressure that was registered in May. "With the planned fiscal and monetary policies as well as major actions to be taken to boost productivity," said Ahmed, "we expected the inflation rate to go down in the coming fiscal year." The administration also expects the value of imported goods to grow by 4.5pc. For the current fiscal year, the government planned on GDP growing by nine percent; however, due to the virus the government is expecting the growth rate to fall by two to three percentage points from what was expected.



Women around the Koshe area hunt through piles of trash to find scraps of metal to sell. With close to three million people unemployed in the country and a headline inflation of 33pc, unskilled labour is in little demand. Ethiopia has an adult literacy rate of 51pc, with fewer numbers going past high school. Less than three percent of 12th-grade students made it to universities this year while the rest were at the mercy of remedial exams...



An old wooden car that was part of a commercial campaign by a furniture company around the Beherawi Theatre area. Ethiopia's forest coverage to national land size has been registered at 15pc to the latest data by the World Bank. The current Prime Minister Abiy Ahmed launched an initiative labelled 'Green Legacy' to plant five billion trees in 2020 claiming an 83pc success...



A young boy attempts to pull a piece of cloth from an overloaded pickup truck around the Ayer Tena area. Observing an unsupervised child on the streets of the capital has become a common sight, with sporadic conflict across the country creating nearly four million internally displaced people. Despite the last census having been conducted 16 years ago, the population of the country is estimated at 120 million...