Nation Registers 7.7 Percent GDP Growth Last Ethiopian Budget Year

Addis Ababa November 02/2018 Ethiopia has registered 7.7 percent Gross Domestic Product growth in the Ethiopian Fiscal Year 2010 against the planned 11.10 percent, according to Planning and Development Commission. Briefing journalists today, Planning and Development Deputy Commissioner Getachew Adem said the major sectors agriculture, industry and services registered 3.5, 12.2 and 8.8 percent growth respectively. He said the unrest in the country, foreign currency crunch and power outage have negatively influenced the economic growth. Manufacturing and construction were in particular highly affected as they were unable to purchase inputs from abroad due to foreign currency shortage, he added. The registered 7.7 percent total GDP was based on wide range of economic activities. The contribution of these activities by major industrial classification shows that agriculture, industry and service industries contributed 1.3, 3.1 and 3.3 percent respectively. The per capital GDP in the fiscal year has reached 883 USD and domestic saving 24.3 percent of GDP, according to the report. From 2003 up to 2010 Ethiopian Fiscal Years, the economy registered robust growth in which the average growth rate was 9.6 percent.