Ethiopia Attracts about 2 Billion USD in FDI During Last Six Months

Addis Ababa, February 2/2023/ENA/Ministry of Planning and Development disclosed that Ethiopia has attracted close to 2 billion USD in Foreign Direct Investment (FDI) during the last six months of this Ethiopian fiscal year.

This was revealed at the six-month performance evaluation of the major macroeconomic and sectors held in collaboration with the Office of the Prime Minister.

During the evaluation, it revealed that there is a need to continue the economic growth that is being registered by carrying out the activities that institutions have planned for the next six months.

Planning and Development Minister Fitsum Assefa explained that Ethiopia has been registering better progress despite the COVID-19 pandemic, the Russia-Ukraine war and domestic difficulties.

According to her, Growth of Domestic Product has enabled the country to rank third from among sub-Saharan countries by recording 126 billion USD.

Ethiopia's economy is expected to grow by 7.5 percent in the current fiscal year, the minister added.

Noting that the productivity of agricultural crops is the basis for economic growth, Fitsum said 1.5 million jobs have been created in the last six months.

In the first half of the fiscal year, the nation has attracted nearly 2 billion USD in Foreign Direct Investment, according to the minister.

This shows 22.3 percent increment when compared to the same period last year.