Ethiopia, which has struggled with image issues since a famine in the 1980s, has recently emerged as a remarkable engine for economic growth, earning praise from one tax adviser as “Africa’s fastest-growing, non-energy-driven economy.” The country’s economic output has grown between 8 and 10 percent over the last decade, and Ethiopia has made large strides in meeting the U.N.’s millennium development goals, especially in the areas of infant mortality and children’s education.
Part of that growth has come as the result of infrastructure policies put in place by the government. Ethiopia has been investing in projects ranging from hydroelectric energy generation and new roads to expanded social services. Investment from foreign sources has also poured into the country, allowing Ethiopia to diversify its economy and welcome international companies.
Stability has provided another key to Ethiopia’s growth. More than six-tenths of the country’s budget goes to buttressing economic sectors that provide aid to its poorest citizens. Perhaps as a result, it has been more stable in recent years than it was in the past.
Part of that growth has come as the result of infrastructure policies put in place by the government. Ethiopia has been investing in projects ranging from hydroelectric energy generation and new roads to expanded social services. Investment from foreign sources has also poured into the country, allowing Ethiopia to diversify its economy and welcome international companies.
Stability has provided another key to Ethiopia’s growth. More than six-tenths of the country’s budget goes to buttressing economic sectors that provide aid to its poorest citizens. Perhaps as a result, it has been more stable in recent years than it was in the past.