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Ethiopia records double-digit economic growth under GTP

February 8, 2013

Ethiopia records double-digit economic growth under GTP – Sudan Tribune: Plural news and views on Sudan.

The ministry of finance and economic development on Wednesday announced that Ethiopia has registered an average of 10% economic growth during the past two years of the five-year Growth and Transformation Plan (GTP).

In a report, state minister Abraham Tekeste said Ethiopia’s economy showed 8.5% growth during the last fiscal year of 2011-2012, with 4.9 % growth in the agriculture sector, 13.6 % in industry and 11.1 % in the service sector.

Investment is also up by 6.7% from 27.9% to 34.6%, he added.

During the year, the country registered a national savings rate of 16%, exceeding the 15% initial target set by the growth plan.

Tekeste underscored that the nation will continue to register an average double-digit growth in the remaining three-year period of the GTP.

He further said that Ethiopia’s average 11% growth economic rate recorded during the past nine years is far better than the Sub-Saharan average of 5% to 6%.


From → Miscellaneous

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