Govt Expects Economy to Grow at 9.2% this FY

ADDIS ABEBA – Prime Minister Abiy Ahmed says Ethiopia’s economy is expected to grow by 9.2% at the end of the current 2018/2019 fiscal year.

The latest figure has shown a significant increase from the previous 2017/18 budget year which was 7.7%, according to government’s 11-month performance report.

The Prime Minister said that the growth rate of the country’s economy has been decreasing over the past three years. He attributed to the political and social unrest that Ethiopia has been facing during the period for the slow economic growth.

But, he said the growth will show an upturn this FY. He told members of parliament that the economy will expand “by 9.2% in the current financial year”. The 2019/20 fiscal year will end next week, July 7, 2019.

About 1.4 million new jobs have been created during the last 11 months for the youth but there are more than 11 million unemployed youth in the country, he indicated.

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