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Ethiopia - 5th Fastest Growing Economy in the World in 2010 - Economist

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11/22/09

  11:46:14 pm, by admin, 409 words  
Categories: Business, Ethiopia

Ethiopia - 5th Fastest Growing Economy in the World in 2010 - Economist

Ethiopia - 5th Fastest Growing Economy in the World in 2010 - Economist

nazret.com - The Economist magazine predicts Ethiopia's economy to grow by 7% in 2010 and predicts the country to be the 5th fastest growing economy in 2010. Last year the magazine predicted Ethiopia as the 4th fastest growing economy for 2009.
The magazine predicts Qatar to top the fastest growing economies in the world with a GDP growth of 24.5% followed by China, Congo (Brazzaville), Turkmenistan and Ethiopia.

In the political sphere, Economist says it predicts political tensions will rise around May election. But, (surprise, surprise) the Ethiopian People's Revolutionary Democratic Front will stay in power. The magazine went on to say, the IMF has rewarded the government's economic management with financial support, and a strong performance in agriculture, the mainstay of the country, will make Ethiopia as one of the fastest-growing economies.

Ethiopia's GDP is expected to reach $35 Billion in 2010 and inflation is estimated at 12%. Kenya which is the biggest economy in East Africa is predicted to have a GDP of $38 Billion in 2010. If Ethiopia's GDP growth forecast is accurate, Ethiopia could soon surpass Kenya, to become East Africa's biggest economy, although the country's GDP per head still lags far behind of Kenya.

Source: Economist: The World in 2010 also available at a newsstand near you.

December 6th-7th 2009, The Economist will launch a first-ever summit, timed with the publication of The World in 2010. If interested to attend the summit in Washington DC, register here

163 comments

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Comment from: Lalibela [Visitor]
Lalibela

Be vigilant my country men Legese is bribing the Economist.
:no::no:

11/23/09 @ 00:21
Comment from: Ato [Visitor]
Ato

From 4th drop to 5th…..:no:

Bad Zenawi…. Bad Zenawi….:D

“…Ethiopia could soon surpass Kenya, to become East Africa’s biggest economy….”

Bad Zenawi…. Bad Zenawi….We need to remove this leader ASAP! We are not ready to go up yet - he is leading us somewhere which we don’t know.

Long live Debebe Eshetu & Abebe Belew too!

——–

11/23/09 @ 00:26
Comment from: Halafi Mengedi [Visitor]
Halafi Mengedi

The economist admiration is simply to encourage the Ethiopian Government to continue their insane selling out Ethiopian lands to feed foreigners while our people are begging from the same people who leased our lands for 100 years for pennies. The fast growing 7% to show up and the birth rate is three times the economic growth and the net effect is starvation and begging around the world. BTW, Ethiopia is breeding kids like mushroom over night and where will be those people to farm and live???

IMF worked hard to push Ethiopian Government to build road infrustractor in order to ship their crops from Ethiopia efficiently to feed their people

11/23/09 @ 00:28
Comment from: des_pes [Visitor]
des_pes

ኢትዮጵያ የህዝብ ብዛት ቁጥጥር መሠረት መጣል አለባት። ይህ ደግሞ ካሁኑ መጀመር አለበት። ምክንያቱም የህዝብ ብዛት ቁጥጥር በይበልጥ የማሳወቅና አማራጭ የማስገኘት ጥረት ነው። አሁኑኑ ችግሩ ሳይባባስ አንድ አይነት እርምጃ መውሰድ መጀመር ያስፈልጋል።

11/23/09 @ 00:34
Comment from: Deme [Visitor]
Deme

I hope this is a true report. If the economy grow 7%, why do we have more 9 millions starved people.

If the economy grow 7% here, we would have a shortage of working people. May be 7% in Ethiopia and here is not the same thing.

Dicator melese may have also paid the Economist to write some good news about Ethiopia.

11/23/09 @ 00:36
Comment from: Selam [Visitor]
Selam

The Ethiopian government and its people have to be congratulated for this. Good step and looking forward for the near future. Selam

11/23/09 @ 01:03
Comment from: the Felasha [Visitor]
the Felasha

That’s good News, I hope more of us would return and help Ethiopia reach its potential. Most in Diaspora have the burning desire to do just that, but get tangled up in politics - looking for some resolution in that arena. Democracy might come to Ethiopia sooner or later but how long should we be on the sideline waiting for it? In Africa most countries are under dictatorship but that didn’t stop other Africans from going back and helping their country. Isn’t our responsibility to do what we can to help our fellow Ethiopians? Try a humanitarian approach - there is so much needed in Ethiopia any help is appreciame ted. Stop whining and HELP! trust you will sleep better!

11/23/09 @ 01:16
Comment from: Lalibela [Visitor]
Lalibela

selam getting some share form GUNA
ther will be no circumstances to hit a 7% growth IMF working closely with the junta to deceit the public. This a tablet for the junta/eprdf “edime marazemia".

FREE ETHIOPIA

11/23/09 @ 01:19
Comment from: Next call [Visitor]
Next call

I have no doubt with the statistic of the Economist. As one of the most formidable publications in the World, which does thorough and accurate as well as conservative assessment of economies in the World, no way can we refute its numbers. It is admirable and commendable that the Ethiopian govt is doing somethings right, at the least, to maintain the growth momentum while most of the World is in doldrums. My problem with the govt is that it could have done more. The liberalization should reach the farmlands.It should allow not only massive foreign investors but also farmers property (transferable lease right)so as to unleash their true potential. I was watching a documentary about drought in Wolaita where a farmer who has a farming right to little more than an acre of land with 8 siblings showing his scorched maize to a foreign reporter. I have no doubt that as soon as his 8 children reach adulthood, they will get an eighth of an acre based on the current formula and take a dive in ever more misery. If this guy had a choice he could have gotten rid of his land and join his fellow ” Dorze” craftsmen in Ketchene, Addis and do ten times better. For God’s sake, EPRDF, give the farmer the property right you are trying to allow foreigners to have and let him decide whether to keep on tilling the land or partially mortgage it to undertake gainful entrepreneurship in the towns and cities. After all, you were country folks who came to town in ‘ berebaso’ and now are indulging ” kurt siga’ and kitfo a la Gurage. This is my main reservation about this govt. It came from the deep poverty stricken regions of Ethiopia and succeeded somehow. But hell no, the poor farmer, perhaps one of the cousins of powers to be, is not allowed to do what he wants with the land. He cannt mortgage it and get a tractor, neither can he take a loan against it to get a viable concern or buisness in the cities etc etc

So long as this flaud policy of the Eprdf, the farmer will keep on having 8, 12 and even 72 children while city folks have at the most 4 kids. in other words, those in the country side without the light of civilization keep on breeding while boredom breeds more children. There lies the problem in Ethiopia. So long as the regime keeps the farmers in the dark they will keep on breeding from boredom and alike. the regime has tied them in a fraudulent land tenure system where they don’t have the right to anything but the plow, for the cow might die of thirst. Shame on this govt for not allowing hard working farmers possess the land they work day and night for keeping them in abject poverty. At the same time, i applaud the regime for tapping into the massive hydroelectric potential. Hooray to Gil gel Gibe I,II.III and IV and now Tana Beles.

We will keep on having this problem so long as we rely on small farmers and not on Kulaks deliver. I guarantee you that there will be 20 million folks needing foreign aid in 5 yrs so long as the fundamental right of the farmer to do whatever his heart desires: mortgage it to buy advanced farm equipment, take a loan against it to open a small buisness, send his kids to school, or sell it outright to move to Cape town, get low cost irrigation schemes etc etc

There is drought everywhere in the World, but the word ‘ famine’ has become synonymous with Ethiopia to our dismay. It Inst that our farmers are lazier than those in Kenya or elsewhere, it is the fact the govt who speaks so much about their God given right to their way of life is depriving them of their God given right to own the land they sweat to tame.

11/23/09 @ 01:20
Comment from: Tolla [Visitor]
Tolla

Don’t believe what the bankrupt news media tells us for the money they got from the looted Ethiopian money. They are just getting their share for the propaganda and never care for the POOR AND BLACK AFRICANS.

11/23/09 @ 01:21
Comment from: Ashenafi [Visitor]
Ashenafi

P.M. Meles did say, “…Let them all talk, we’ll keep doing the work.”

May all good news from ethiopia continue to make you Eritreans, and Ethiopian traitors, burn inside out!

11/23/09 @ 01:41
Comment from: Boldnugly [Visitor]
Boldnugly

Congratulations tgrians more prosperity on your way! Yayyyy while the rest of us going hungry year after year.

11/23/09 @ 01:49
Comment from: mershiti [Visitor]
mershiti

CAN ANY ONE TELL ME HOW GENINUE THIS REPORT IS SERIOUSLY I DON’T GET IT HOW IS A COUNTRY SUPPOSED TO BE THE FIFTH ECONOMICALLY GROING NATION WHILE PEOPLE ARE EVEN STRUGGLING TO EAT ONCE PER DAY……
SOMETHING SHOULD BE WRONG!!!!!!!!!!!!

11/23/09 @ 01:50
Comment from: Dave [Visitor]
Dave

Nazrethoch, do you ever wonder what kind of Ethiopian, be it pro gov or not, would complain about every good news about his or her country.with all due respect to you, In the name of freedom of expression,I think you are giving Ethiopia’s enemies such us the Eritrean rats a free ride to insult ethiopia. true or not this is good news, but in my opinion, I see Ethiopia is on the right direction, perhaps which is why some are scared to death. sorry we can’t help it.

11/23/09 @ 02:16
Comment from: Habtamu [Visitor]
Habtamu

As a citizen of Ethiopia, we all should be happy to hear such a good news from western’s magazine. Our government has done a great job to attain this success. If all of us do our part, our country can a better place where we no more listen to drought and hunger. U guys living abroad, please bring your skill, money and experience and contribute to the national growth. Ethiopia is also your country. U have to feel and develop a sense of belongingness and play your own role. I am sure there are lots of things U can do for your mother land. We Ethiopians are nationalist and patriotic. Please come and do all your best to Ethiopia.

11/23/09 @ 02:24

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rebtel

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