Ethiopia is one of the top four emerging economies in the world.
Addis Ababa, 14 March 2014 (WIC) - Ethiopia is one of the four countries which would shortly put a challenge to the second world largest economic countries in the world; Brazil, Russia, India and China, also known as BRICs.
For the past ten of eleven years the Ethiopian economy has been climbing up in astounding speed. Many of the international institutions; like IMF, World Bank and the African Development Bank has been confirming the miraculous economic growth in Ethiopia.
Time Magazine has published an article on Wednesday March 12, 2014, titled ‘Forget the BRIC; Meet the PINEs’by Michael Schuman. The Time article says there are new world advanced emerging economies, Philippines, Indonesia, Nigeria and Ethiopia, the PINEs.
Michael Schuman said Ethiopia was known for its grinding poverty for years, but through peace and superb economic policy of the government it is one of the fast growing economies in the world.
“Ethiopia may be even more exciting. Once synonymous with poverty, peace and strong economic management have turned the nation around. The International Monetary Fund sees growth in the 7% range in the coming years for both countries, and there’s even talk of a group of “lion economies” rising up in the same way the “tigers” of Asia did in the late 20th century”.
Schuman said the BRICs are facing different challenges. He added the PINEs may not be as big as the BRICs in population and economy, but they represent a great opportunity for investors worldwide. The PINEs combined population of 600 million people and fast growing economies is something to be considered by serious investors.
We would imagine Dr. Birhanu Nega and his government in exile will be thrilled when they hear this news. From their Sawa desert in western Eritrea, they would be sending their congratulatory letters to Prime Minister Hailemariam and the EPRDF government. On a second thought they might say “Woyane is cooking the books to confuse the Ethiopian people or they paid the Time Magazine journalist”.
After all in 2011 they told us the Grand Ethiopian Renaissance Dam was fake project. There is no dam what so ever it is just the Woyanes are trying to stifle the BANANA Revolution. Now the GERD is almost 40% built and next year it will start producing the first 750 megawatt of electric power, our Washington DC freedom fighters shifted their efforts to hijacking a civilian airlines. (tigraionline)
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