Ethiopia is expected to show growth accelerate to 7.7 percent in 2019/20 according to the International Monetary Fund (IMF) report

Ethiopia is expected to show growth accelerate to 7.7 percent in 2019/20 according to the International Monetary Fund (IMF) report

Ethiopia is expected to show growth accelerate to 7.7 percent in 2019/20 according to the International Monetary Fund (IMF) report. The report projected an increase in the average growth for Sub-Saharan Africa countries, forecasting a growth rate of 3.7 percent for 2020. According to the IMF Regional Economic Outlook issued on May 2, 2019, Sub-Saharan Africa’s average growth is expected to increase from 3 percent in 2018 to 3.5 percent in 2019 and 3.7 percent in 2020. The report revealed that non-resource-intensive countries are expected to continue growing rapidly at about 6.3 percent on average in 2019-20. Ethiopia, the region’s third largest economy, is expected to see growth accelerate to 7.7 percent as the uncertainty caused by political headwinds and external shocks abates the report revealed.

Source; Ethiopian Investment Commission

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