Ethiopia Top of the Pile in Average Economic Growth - ENA English
Ethiopia Top of the Pile in Average Economic Growth
Addis Ababa December 17/2019 Ethiopia is the fastest growing economy in the world, Kenyan analyst asserted.
President of Africa Policy Institute, a Nairobi-based geopolitical think-tank, Peter Kagwanja said Ethiopia’s average economic growth over the last 10 years places it top of the pile, AllAfrica reported.
Stating that International Monetary Fund (IMF) data of 10 years from 2010 to 2019 supports that Ethiopia has the highest economic growth rate of 194 countries tracked by the fund.
Similarly, the World Bank placed the country second only to Nauru for average growth rate between 2009 and 2018.
“We, therefore, rate the claim as mostly correct. The country still has a lot to do if more Ethiopians are to benefit from this high speed of growth,” the analyst pointed out.
Claiming the economic growth in the Horn of Africa country was quicker than anywhere else; Kagwanja noted “Ethiopia is the fastest growing economy globally.”
Describing the growth as “astronomical”, he predicted that Ethiopia would become a “major power” in East Africa.
However, the analyst warned that if the country exploded, the region would “drown”.