Ethiopia the 7th biggest economy in Africa
Addis Ababa, 4 March 2014 (WIC) - The CIA World Factbook updated Ethiopia’s GDP PPP (Purchasing Power Parity) to $118.2 Billion USD for 2013.
This is over $9 billion USD growth from the previous year’s report. This is a remarkable annual growth particularly for an economy without oil, gas, or significant minerals.
According to the report, Ethiopia’s economy leapfrogs many notable countries including Syria, Tunisia, Uzbekistan, Bulgaria, Burma, and Dominican Republic. Ethiopia is now officially the 7th biggest economy in Africa and the 69th biggest economy in the world.
Ethiopia’s GDP (Official Exchange Rate) also grew from $41.9 Billion USD in 2012 to $47.3 Billion USD in 2013. Lead by manufacturing and electric power grids, Ethiopia’s economy is expected to continue leapfrogging many countries in the next few years.
Once again, the right policies outlined by the government and the ruling party are proven to be working.
The credit for such sustainable high growth rate goes to all hard working public servants, specifically, to the late PM Meles Zenawi, who was the architect of the economic reforms.
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