#Ethiopia's economic growth slows to 8% on worst drought in 30 years
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#Ethiopia's economic growth slows to 8% on worst drought in 30 years

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Added by Beti Gebeyehu in Business News News
2,529 Views

Ethiopia economic growth has slowed to 8% in the 2015-2016 fiscal year, its slowest in nearly a decade. The country's planning commission says projected growth of 11% this year has been hit by the worst drought in more than thirty years. The International Monetary Fund had warned that Ethiopia's economy would shrink to just 4.5% this year, a figure the government disagrees with. Analysts also predict that growth could further be affected by the anti-government protests in the Oromia and Amhara regions, which have seen dozens of foreign owned factories and flowers farms attacked by demonstrators. Ethiopia had previously averaged growth of 10% over the last ten years, emerging as one of the fastest developing economies in the world.


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Ethiopia economic growth has slowed to 8% in the 2015-2016 fiscal year, its slowest in nearly a decade. The country's planning commission says projected growth of 11% this year has been hit by the worst drought in more than thirty years. The International Monetary Fund had warned that Ethiopia's economy would shrink to just 4.5% this year, a figure the government disagrees with. Analysts also predict that growth could further be affected by the anti-government protests in the Oromia and Amhara regions, which have seen dozens of foreign owned factories and flowers farms attacked by demonstrators. Ethiopia had previously averaged growth of 10% over the last ten years, emerging as one of the fastest developing economies in the world.

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