The Ethiopian government is expecting a 9.2% economic growth for the 2019-20 fiscal year that begins this month and ends in June next year, compared to 7.7% the previous year, Prime Minister Abiy Ahmed announced on July 1.<\/p>\n\n\n\n

“The economy will grow by 9.2% for the coming financial year,” he said while addressing parliament. In a report published in March, rating agency Moody’s observed that growth in the country should be around 8% in the coming years thanks to huge infrastructure investments.<\/p>\n\n\n\n

Moody’s said infrastructure investments were essential economy boosters in Ethiopia between 2009 and 2018 when the country’s gross domestic product rose 10% a year between the two periods.<\/p>\n\n\n\n

The economy grew at 7.7 % in 2010 (2017\/18) as well as at 8.6% both in 2008 (2015\/16) and in 2009 (2016\/17). 5 billion birr has been collected in revenue in the last 11 months, a 10% increase compared to the previous year.<\/p>\n\n\n\n

More than 11 million people are currently jobless, and the figure increases by two million each year. Last year the government created jobs for about 1.4 million people, he said.<\/p>\n\n\n\n

Foreign direct investment (FDI), loans and remittance increased by 20% compared to the same period last fiscal year, while the mounts deposited by all banks increasing by 22%. Loans distributed by the banks increased by 35%, he added.<\/p>\n\n\n\n

Since Abiy Ahmed was appointed Prime Minister in April last year, he has succeeded in ending feud with neighboring Eritrea and easing political and social tensions.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Ethiopian government is expecting a 9.2% economic growth for the 2019-20 fiscal year that begins this month and ends in June next year, compared to 7.7% the previous year, Prime Minister Abiy Ahmed announced on July 1. “The economy will grow by 9.2% for the coming financial year,” he said while addressing parliament. In …<\/p>\n","protected":false},"author":16,"featured_media":8057,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-13329","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-embassy-news"],"jetpack_featured_media_url":"https:\/\/ethiopianembassy.be\/wp-content\/uploads\/Economy.png","_links":{"self":[{"href":"https:\/\/ethiopianembassy.be\/index.php?rest_route=\/wp\/v2\/posts\/13329","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ethiopianembassy.be\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ethiopianembassy.be\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ethiopianembassy.be\/index.php?rest_route=\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/ethiopianembassy.be\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13329"}],"version-history":[{"count":1,"href":"https:\/\/ethiopianembassy.be\/index.php?rest_route=\/wp\/v2\/posts\/13329\/revisions"}],"predecessor-version":[{"id":13330,"href":"https:\/\/ethiopianembassy.be\/index.php?rest_route=\/wp\/v2\/posts\/13329\/revisions\/13330"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ethiopianembassy.be\/index.php?rest_route=\/wp\/v2\/media\/8057"}],"wp:attachment":[{"href":"https:\/\/ethiopianembassy.be\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13329"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ethiopianembassy.be\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13329"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ethiopianembassy.be\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}