Finance Minister Ahmed Shide told parliament that the economy was forecast to expand 8.9% in fiscal year 2025\/2026.<\/p>\n
It had been originally projected to grow 8.4%.<\/p>\n
Ethiopia, one of Africa’s fastest growing economies remains tied down by debt debt, inflation and currency shortages.<\/p>\n
Last year, Addis Ababa secured a $3.4 billion bailout from the International Monetary Fund (IMF) after receiving guarantees for debt relief from major creditors including China and the Paris Club.<\/p>\n
In exchange, it agreed to stop propping up its currency and to carry out a 30% devaluation.<\/p>\n
That condition has been partly blamed for rampant inflation which stood at 14.4% in April.<\/p>\n
As a measure, the central bank has maintained\u00a0tighter control over money supply and limited private-sector lending.\u00a0 Ethiopia is also required to open its banking and telecom sector to foreign investment.<\/p>\n
Ethiopia’s economy has suffered back to back blows from Covid-19, a war in the northern region of Tigray and conflict in Ukraine.<\/p>\n","protected":false},"excerpt":{"rendered":"
Finance Minister Ahmed Shide told parliament that the economy was forecast to expand 8.9% in fiscal year 2025\/2026. It had been originally projected to grow 8.4%. Ethiopia, one of Africa’s fastest growing economies remains tied down by debt debt, inflation and currency shortages. Last year, Addis Ababa secured a $3.4 billion bailout from the International […]<\/p>\n","protected":false},"author":1,"featured_media":16138,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":1,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","number_popup_post":"1","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","source_name":"Africa News","subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[29,32,2362],"tags":[372,3508,114,1163,4099],"class_list":["post-16558","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-africa","category-economy","category-featured","tag-addis-ababa","tag-ahmed-shide","tag-ethiopia","tag-international-monetary-fund-imf","tag-paris-club"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/16558","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=16558"}],"version-history":[{"count":0,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/16558\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/16138"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=16558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=16558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=16558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}