BY MISGANAW ASNAKE
ADDIS ABABA—The International Monetary Fund (IMF) new global economic forecast stated that Ethiopia’s economy is expected to grow by 6.1 and 6.4 % in 2023 and 2024 respectively.
IMF put Ethiopia as the fourth-largest economy grow projection in sub-Saharan Africa in 2023. This is due to the easing of armed conflict in the nation and the continuation of ambitious economic reforms aimed at opening up one of Africa’s fastest growing.
The economic recovery is projected to be accelerated in 2023 because of the solving of armed conflict in the nation and the continuation of ambitious economic reform efforts aimed at opening up one of Africa’s fastest growing economies, the IMF said.
According to IMF’s report, five of the fastest growing economies of Sub-Saharan countries projection in 2023 and 2024 are Senegal 8.3, DR Congo 6.3, Ivory Coast 6.2 Ethiopia 6.1 and Uganda 5.7 % in respectively.
Of the aforesaid countries of Sub-Sahara, Ethiopia ranks fourth, according to the report.
The IMF predicts Ethiopia’s economy will likely continue to grow by 6.1 in 2023 and 6.4 by 2024, and says Ethiopia’s GDP would reach 126.2 billion USD this year.
THE ETHIOPIAN HERALD THURSDAY 13 APRIL 2023
