IMF projected Ethiopia’s economic growth to be 3.8% in 2022
The International Monetary Fund (IMF) announced that it has predicted Ethiopia’s economic growth to slow in 2022 because of the impacts of internal conflict and pandemic.
IMF has issued its Regional Economic Outlook for Sub-Saharan Africa this week.
In the report, IMF predicted that Ethiopia’s economy will grow at a rate of 3.8% this year, lower than the previous rate of 6.3% last year.
Ethiopia’s economy is also forecasted to expand by 5.7% in 2023.
However, it says “uncertainty is very high because of internal conflict and global geopolitical tensions”.