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

Ethiopia's Economy Back to Pre-COVID Level: WB

Apr 30 , 2021

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."

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.


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.

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.

Put your comments here

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



Related Posts

Share This Post
Linkedin
Google+


Most read

Latest News

Editor's pick

Commentaries

The Missing Half of Ethiopia's Coffee Plan

The 3.1 billion dollars in coffee export earnings Prime Minister Abiy Ahmed (PhD) ann...

When a Cheque Stops Meaning Pay Now

A cheque works because it promises one thing without conditions, which is to pay this amount, now. Strip away that certa...

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

Millions Looking for Work. Companies Cannot Find Many to Hire. A Paradox?

Jul 18 , 2026

Pressed in Parliament on jobs and household incomes, Prime Minister Abiy Ahmed (PhD)...

Ethiopia Needs a Peace Premium the IMF Cannot Supply

Jul 11 , 2026

At a market stall, reform arrives without a communique. It comes as a higher transpor...

The New Gold Standard Comes with a Warning Label

Jul 4 , 2026

In the goldfields of the Benishangul-Gumuz Regional State, Ethiopia's balance-of-paym...

The Rent Law Protects No One Well. Time to Rewrite It.

Jun 27 , 2026

The federal legislative house rushed through one of the country's most contentious ho...

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

A Consultation Worth Less Than Bread

Imagine spending seven years studying medicine, completing demanding clinical rotatio...

A Body Trapped in Tomorrow

A medical doctor friend recently shared an area of research that had captured her attention. "Our bodies can't always tell the difference...

Life Matters

The Doors That Speak

It feels like a lifetime ago since I wore a high school uniform. Memory can be a fickle thing, and perhaps time has softened the edges of th...

Borrowing From Tomorrow to Survive Today

The other day, I was having coffee with a friend, let's call her Maya: when she confessed something that...