The economy of Ethiopia has achieved an impressive average growth rate of 7.1% over the past six years. This growth has made it the leading economy in East Africa and one of the top five in Africa. Since 2018, the country has implemented economic reforms to address previous unsustainable growth patterns. These reforms have led to significant changes.
The government has focused on reducing foreign debt and addressing foreign currency shortages. It has also worked to create sustainable job opportunities and stabilize inflation. Additionally, both the public and private investment sectors have improved. The agriculture-based economy has seen substantial advancements. Major initiatives aim to boost agricultural productivity and diversify into other sectors.
Ethiopia is completing large-scale projects and growing its tourism sector. The country is also advancing agriculture and shifting towards digital information technology. Despite domestic instability, the global COVID-19 pandemic, and geopolitical tensions, economy of Ethiopia continues to multiply.
In 2024., Ethiopia entered the second phase of its economic reform agenda. The World Bank predicts the economy will grow by 7% by 2025.
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