World Economy

Ethiopia Should Maintain Momentum

Ethiopia Should Maintain MomentumEthiopia Should Maintain Momentum

Ethiopia’s economy needs to focus more on streamlining tax payment, increasing domestic input supply, and maximizing export markets among others to maintain its momentum as the fastest growing economy in Sub-Saharan Africa, according to economists and officials, AllAfrica reported. The economy has proved that it is laid on a solid foundation and broad based growth as it has remained the fastest growing economy in Sub-Saharan African recovering from three major and unprecedented levels of challenge namely drought, unrest and army worm infestation, economists explain. In its late April report, the International Monetary Fund confirmed that Ethiopia has remained at the top spot as the fastest growing economy in Africa registering 8.3% growth in 2017 fiscal year. It also forecasted that the healthy FDI inflows and strong public investment should keep activity buoyant in 2018 fiscal year to register 8.5% growth, 8.3% in 2019 and 8.1% in 2020. An economist from Jimma University, Wondaferahu Mulugeta said that growth is expected to stay high in 2017/18.

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