Ethiopia’s GDP growth to lead Africa by 2011 – AFDB

By Tesfa-Alem Tekle

July 7, 2010 (ADDIS ABABA) – Ethiopia’s Gross Domestic Product (GDP) is likely to grow by 10.9 percent in 2010-2011, putting the horn Africa’s nation in the lead across continent, the African Development Bank (AFDB) said.

The Bank in its 2011 report forecast indicated that, Ethiopia will be in a leading development position by 10.9 percent, followed by Angola and Uganda with expected 7.9 and 7.9 percent growth respectively.

Ethiopia is one of the fast growing non-oil economies and forerunners that achieved double digit growth in the period 3003/2004, it said.

The report said Ethiopia is expected to fulfill the Millennium Development Goals (MDGs) in 2015.

Accordingly, Ethiopia, Libya and Tunisia are listed among the leading countries to meet the target of MDGs.

It said the Ethiopia has given priority to education, health, agriculture roads for decade and has achieved impressive results.

Economic Development and NEPAD Division Director in UNECA Emmanule Nnadozie said the report is widely recognized and assesses the social and administrative progress of the continent.

The report recalled that Ethiopia ranked first in its overall GDP in 2009 by registering 9.9 percent growth followed by Congo and Malawi registered 7.6 percent and seven percent respectively.