In-Depth Analysis
Ethiopia
Ethiopia has a low level of economic development, widespread poverty, a limited export base and is susceptible to external shocks such as droughts. An ambitious expansionary fiscal policy has resulted in commendable economic growth over the last decade, but the private sector remains underdeveloped.
Prime Minister Abiy Ahmed continues to impress with the scope and speed of his reform programme. The past quarter has seen the prime minister confront large investors and military-owned companies that have not delivered on expectations, while restrictions on foreign participation in the economy have been loosened further. However, while reform progress is being made on the economic front, rhetoric about political reform is yet to turn into action, and we have not seen any changes to the rules of the political game. (Source: Ethiopia Quarterly Update, published October 2018.)
Macroeconomic Data
(2018)
|
Fiscal Balance (as a % of GDP) |
-4.1 |
|
Consumer Price Index (% change y-o-y, avg) |
13.7 |
|
Current Account Balance (as a % of GDP) |
-8.2 |
|
Real GDP (annual % change) |
7.8 |
|
GDP per Capita, US$ |
728 |
|
Import Cover (months) |
1.9 |
|
Population, million |
107.6 |
| Total External Debt (as a % of GDP) |
36.9 |