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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
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