Home | Contact us | Links | Archives | Search

Ethiopia has fastest growing non-Oil Economy in Africa – IMF

Issue 312
Front Page
Index
Headlines

Somaliland Claims Victory In Latest Sool Clash With Puntland

President Rayale in Washington

MP Alun Michael Pop's The Question In 'Prime Minster's Question Time'

Tribute To Legendary Singer Muhamad Yusuf Abdi 1940-2008

Kenya Opposition Calls 3 Days Of Protest

The New Somaliland Press & Publications Bill 2007

Somalia's Former PM To Run For President In 2009

The ERA Of Injustice, Corruption And Mismanagement In Somaliland Must Come To An End

Question about UNDP funding the police force of Somalia's Transitional Federal Government

''Somalia's New Reality: A Strategic Overview''

Regional Affairs

Kenya's Neighbors Start To Feel The Heat

Djibouti – Key U.S. Ally On The Up And Up

Editorial
Special Report

International News

EU pursuing new trade deals with Africa

Hail Caesar?

Asylum seeker figures soar

FEATURES & COMMENTARY

Condescension and ignorance are no help to Kenya

One step back, one step forward

Eyes Tight Shut

Borama Municipality confirmed the construction of 2km highway in side the town

Kenya failure bruises African Union ambitions

Food for thought

Opinions

Somaliland’s Democracy: Is The Major Issue In Doubt Now?

Peace Appeal: Uniting Against The Violence In Kenya

Thank You: Letter From The Leadership Of Qaran

Studying In Uganda: “Live To Learn, You Will Learn How To Live”

Why Are You Seceding… Brother?‏

KAMPALA: EHAHRD-Net APPALLED BY VIOLENCE IN KENYA-HRDs MUST BE PROTECTED

Somaliland elders never tire and retire


Addis Ababa, Ethiopia, 11 January 2008 - According to the IMF Gross Domestic Product (GDP) figures for 2007, Ethiopia had the fastest growing economy in Africa among countries whose economy is not driven by Oil revenue. The International Monetary Fund (IMF) data indicated that Ethiopia had a 10.5% GDP growth in 2007, well above the 6.1% average for Sub-Sahara Africa (SSA).

The IMF report said a rapid average GDP growth in Africa mainly reflects the “new production facilities in Oil-exporting countries” such as Angola, Sudan, Libya and Nigeria. Without tallying high growth rates from the Oil-exporting countries, IMF disclosed that Sub-Sahara Africa (SSA) had an average of only 4.9% GDP growth in 2007. However, IMF indicated that Ethiopia remained a good performer last year, owing to a few emerging Ethiopian sectors that are challenging the dominance of Ethiopia’s coffee revenue.   
  
Other good African performers in 2007 include Kenya (6.4%), Tanzania (7.1%), Sierra Leone (7.4%) and Liberia (9.4%). Ethiopia, one of the two African countries not to be colonized, has long had poor infrastructure compared to other African nations and still has a very low GDP per Capita of only 1,123 US dollars, according to IMF statistics.  
 
Zimbabwe’s economic progression remained exceptionally weak with –6.2%. Other poor performers in GDP growth for the year 2007 were Togo (2.9%), Chad (1.5%) and Eritrea (1.3%).

Source: Jimma Times


Home | Contact us | Links | Archives | Search