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Ethiopia, The Economic Miracle Of Africa (Prensa Latina)

May 17, 2018
Addis Ababa, May 7 (Prensa Latina) The Ethiopian economy is valued as the largest in the region and a miracle in Africa, considering that only 18 years ago the country had one of the highest poverty rates in the world.
 
According to a report recently released by the International Monetary Fund (IMF), the figures amounting to 8.5 percent indicate a continuous expansion after a decade.
 
...The specialists considered that in order to guarantee stability, the authorities should give top priority to frequent power interruptions and improve road, rail and air connectivity.
 
In addition, they called on the private sector to form a reciprocal relationship with the public and invest in technology transfer, generation and employment management, as well as in market research and addressing the scarcity of currency.
 
The country's large investment in infrastructure facilities, including the expansion of industrial parks, hydroelectric power stations and other basic services, together with the devaluation of Birr (Ethiopian currency) and the rebound of agricultural production, can be attributed to the estimated economic growth.
 
They highlighted documents from international organizations, such as the World Bank. A recent study conducted by the Center for Global Development and quoted by the portal Quartz notes that Ethiopia can become the 'new China' of the African continent.
 
 

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