Addis ababa, june 11, 2018 ethiopia s gdp growth will decelerate to 9. Organization for social science research in eastern and southern africa ossrea addis ababa, ethiopia general information about. With about 109 million people 2018, ethiopia is the second most populous nation in africa after nigeria, and the fastest growing economy in the region. Meanwhile, the share of assets held by private banks increased from 6. In addition to discussing global and regional prospects, this edition includes several pieces on. Ethiopias managed float exchange rate foresees a 5%6% annual depreciation to adjust for inflation differentials with trading partners.
Ethiopia economic growth while the economy is expected to lose considerable traction in fy 2019, growth is expected to regain strength in fy 2020, buttressed by stronger investment activity and infrastructure spending. The international bank for reconstruction and development ibrd and the international development association ida are two of the five institutions of the world bank group wbg. East asia and pacific in the time of covid19 the covid19 virus that triggered a supply shock in china has now caused a global shock. I am pleased to present the 2016 annual report of the africa group 1 constituency at the world bank group wbg. Gross domestic product 2018 millions of ranking economy us dollars cub 64 cuba 96,851 lka 65 sri lanka 88,901 ken 66 kenya 87,908 dom 67 dominican republic 85,555 eth 68 ethiopia 84,356 omn 69 oman 79,277. World bank east asia and pacific economic update, april 2020. Ethiopia aims to reach lowermiddleincome status by 2025. The ethiopian economy continued its strong expansion in fy14 with real gdp growing by 10.
The new role of the world bank home scholars at harvard. Construction and services sectors account for most of the growth from the supply side. Growth was driven mainly by the services sector from the supply side and public investment from the demand side. Clemens and michael kremer michael clemens is a senior fellow, center for global development, washington, dc. Statistics manual gfsm standards is an urgent task. Poverty and household welfare in ethiopia, 20112016 english. Ethiopias economy experienced strong, broadbased growth averaging 9. Ethiopia is one of the fastestgrowing economies in the world. Direct contributors to the report were for chapter 1.
Ending poverty, investing in opportunity world bank 20191002 the annual report is prepared by the executive directors of the international bank for reconstruction and development ibrd and the international development association idacollectively known as the world bankin accordance with the by. Ethiopia economic outlook african development bank. Industrialization and industrial policy in ethiopia. Ethiopia the second most populous country in africa is a oneparty state with a planned economy. The global economic prospects gep is the world bank s semiannual flagship publication on the state of the world economy. Ethiopia the human capital index hci database provides data at the country level for each of the components of the human capital index as well as for the overall index, disaggregated by gender. For more than a decade before 2016, gdp grew at a rate between 8% and 11% annually one of the fastest growing states among the 188 imf member countries. However, the banking, telecommunication and transportation sectors of the economy are dominated by governmentowned companies. Ethiopia remains highly vulnerable to a range of shocks, notably the severe drought of 2015 2016.
The ethiopian economy grew by 8 in 201516 due to the recent drought affecting agricultural production with spillovers on the trade sector. World development indicators wdi is the primary world bank collection of development indicators, compiled from officially recognized international sources. This forecast hinges on the strength of the world economy and a gradual recovery in commodity prices. The national bank of ethiopia nbe notes agriculture, industry and services have contributed 35%, 27% and 39% to gdp respectively during the 201718 ethiopian fiscal year as opposed to 36. More than 70% of citizens in ethiopia are under 30, and nearly 50% are under 15. According to official statistics, during the ten fiscal years ending june 2016, ethiopia s gdp averaged 10. Apr 27, 2016 an enterprise survey is a firmlevel survey of a representative sample of an economy s private sector.
Ethiopias economy is concentrated in the services and agriculture sectors. High inflation has, however, contributed to overvaluation of the ethiopian birr despite the 15% devaluation in 2017, necessitating a gradual shift to a more competitive exchange rate. Economic growth, particularly in agriculture, has been an important driver of poverty reduction in the last decade. Ending poverty, investing in opportunity world bank 20191002 the annual report is prepared by the executive directors of the international bank for reconstruction and development ibrd and the international development association idacollectively known as the world bank in accordance with the by. Ethiopia s real gross domestic product gdp growth decelerated to 7. Abstract this paper examines the process of building productive capacity in ethiopia over the past two decades and the roles played by the state, government, the private sector, foreign firms and. On a more positive note, in early april the world bank approved usd 83 million in emergency funds for the country. A homegrown reform agenda was launched to address the buildup in inflation and persistent foreign exchange shortages. From 2004 to 20, the countrys average annual gross domestic product gdp growth rate exceeded.
September 26, 2016 consideration of the staff report on issues related to the. Interestingly, structural economic reforms have been largely absent from ethiopias recent story of. The world bank annual report 2017 was produced by the world bank groups external and corporate relations unit, led by jeremy hillman in the corporate communications department, with editorial coordination by daniel nikolits, and key contributions from marjorie bennington, denise bergeron. Ethiopia deploys troops inside somalia as part of the au mission, and in 2015 there were growing reports that abusive liyu police forces were also deployed alongside the ethiopian defense. Current energy situation 3 potential 45,000 mw current 3,810 mw gtp ii 11015mw 2020 potential 5. Annual report on the ethiopian economy ethiopian economic. World bank reinvents tainted aid program for ethiopia. High inflation has, however, contributed to overvaluation of the ethiopian birr despite the 15% devaluation in 2017, necessitating a. Productive capacity and economic growth in ethiopia.
It also builds on the findings of the completion report on the last country assistance. The economy of ethiopia is a mixed and transition economy with a large public sector. An enterprise survey is a firmlevel survey of a representative sample of an economys private sector. Ethiopias economy experienced strong, broadbased growth averaging 10. For more than a decade before 2016, ethiopia grew at a rate between 8% and 11% annually one of the fastest growing states among the 188 imf member countries.
Ethiopia has close ties with all three major abrahamic religions, and it was the first in the region to officially adopt christianity in the 4th century. World bank lauds ethiopias economic growth in a report. The world bank team welcomes feedback on the ethiopia economic update. In 2015, total external flows to africa were estimated at usd 208 billion, with remittances remaining the main contributor.
Ethiopia population 2020 demographics, maps, graphs. He is also a research fellow of the institute for the study of labor iza in bonn, germany. The world bank group is preparing a country partnership framework 20172021 to guide its support to ethiopias development efforts. Each institution publishes its own annual report, all of which are available online. Since 20052006, most data collection efforts have been centralized within the. Learn how the world bank group is helping countries with covid19 coronavirus.
Strong economic growth continued in 201415, but the drought slowed down ethiopias growth to 8 percent in 201516. Growth in ethiopia remained robust in fy w9 thanks to a strong service sector performance. Since the early 2000s, ethiopias economy has been one of the ten fastestgrowing in the world. Annual economic report ethiopian economic association. It covers the period from fy20 to fy2016, one year beyond the gtps. Michael kremer is the gates professor of developing societies, harvard university, and research. The malawi country procurement assessment report is a joint undertaking between the malawi government and the world bank to analyze the country procurement system and recommend appropriate actions to improve the efficiency, economy and transparency of the system. The weo is prepared by the imf staff and has benefited from comments and suggestions by executive directors following their discussion of the report on march 28. Ethiopias economy experienced strong, broadbased growth. Especially after world war ii, tourism, banking, insurance, and transport began to contribute more to the.
The global economic prospects gep is the world banks semiannual flagship publication on the state of the world economy. The index measures the amount of human capital that a child born today can expect to attain by age 18, given the risks of poor health and poor. The world development indicators is a compilation of relevant, highquality, and internationally comparable statistics about global development and the fight against poverty. Addis ababa, may 16, 2019 ethiopia s economic performance in the 2016 17 financial year was robust, albeit slower than in the previous years, and it is set to continue along positive path leading to further poverty reduction, according to the latest world bank group economic update the seventh ethiopia economic update, poverty and household welfare in ethiopia 2011 2016, finds that the. The database contains 1,600 time series indicators for 217 economies and more than 40 country groups, with data for many indicators going back more than 50 years. This inaugural report on the global sustainable development goals sdgs is a first accounting of where the world stands at the start of our collective journey to 2030. African economic outlook 2016 african development bank. The 2016 ethiopia demographic and health survey 2016 edhs is the fourth in a series of demographic and health surveys conducted in ethiopia in 2000, 2005, and 2011. Economist and cottl, mesfin girma economist and cottl, ruth hill sr. Ethiopia demographic and health survey 2016 world bank. Based on information available at the time of these discussions, the. Figure 1 ethiopia real gdp growth and contributions.
The report was prepared by a team consisting of mesfin girma. Trade and competitiveness issues are integral to economywide efforts to spur growth, productivity, and job creation. Document of the world bank report no 62834 public disclosure authorized project performance assessment report ethiopia fertilizer support project idagrant h4420et, idacredit 4543et under the ethiopia emergency food crisis response program and the global food crisis response program june 28, 2011 ieg public sector evaluation. Official pdf, 153 pages world bank documents world bank group. Ethiopia has achieved substantial progress in economic, social, and human. Ethiopias steady economic growth leads to poverty reduction. Ethiopia country partnership framework world bank consultations. Gross domestic product 2018 millions of ranking economy us dollars cub 64 cuba 96,851 lka 65 sri lanka 88,901 ken 66 kenya 87,908 dom 67 dominican. By 2006, however, this figure had fallen to 70 percent. Apr 28, 2020 on a more positive note, in early april the world bank approved usd 83 million in emergency funds for the country. This growth was driven by government investment in infrastructure, as well as sustained.
The report analyses selected indicators from the global indicator framework for which data are available as examples to highlight some critical gaps and challenges. Growth was driven mainly by the services sector from the. Industry, mainly construction, and services accounted for most of the growth. Escalating impacts of covid w9 is expected to result in a sig. Ethiopia economy gdp, inflation, cpi and interest rate. Commercial bank of ethiopia, the development bank of ethiopia, and the construction and business bank accounted for 94 percent of the assets of ethiopian banks. World economic outlook international monetary fund.
We are in the process of hearing your views regarding ethiopias priorities and the role the world bank group can play in helping the country achieve its development goals. As the fourth dhs conducted in ethiopia, the 2016 edhs provides valuable information on trends in key demographic and health indicators over time. Full report 2007 pdf 535k index chart lpi 2007 jpg 285k press release lpi 2007 feature story lpi 2007. The world bank public disclosure authorized ethiopia. In a nutshell, the outlook for the global economy has darkened, amid slowing activity and heightened downside risks.
Firmlevel surveys have been conducted since 1998 by different units within the world bank. Under haile selassie i reigned 193074, ethiopias economy enjoyed a modicum of free enterprise. Developing economies in east asia and the pacific eap, recovering from a trade war and struggling with a viral disease, now face the prospect of a. Country partnership framework for the federal democratic republic of ethiopia for the period fy18fy22 7. In 2017, a world bank report found that enrolment in higher education had multiplied fivefold since 2005, with the number of public institutions increasing from eight to 36 over that period. This annual report is issued in a period, when the world faces several challenges including slowing global growth, climate change and increasing numbers of displaced people. Since 20052006, most data collection efforts have been centralized within the enterprise analysis unit. Trade and competitiveness issues are integral to economy wide efforts to spur growth, productivity, and job creation. Ethiopia has achieved substantial progress in economic, social and human. The world bank ethiopia growth and competitiveness p168566 page 6. The government of ethiopia is in the process of privatizing many of the stateowned businesses and moving toward a market economy.
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