Ethiopia forecasts faster growth next fiscal year
The East African nation is implementing far-reaching economic reforms, backed by an International Monetary Fund loan programme.
Finance Minister Ahmed Shide told parliament that the economy was forecast to expand 8.9% in fiscal year that runs from July 8 2025 to July 7 2026, up from an estimated 8.4% in the current fiscal year.
A budget deficit of 2.2% of gross domestic product (GDP) is expected versus 2.1% of GDP this fiscal year, while overall spending will be about 1.9 trillion birr ($14 billion) next year, he said.
Despite being one of the fastest-growing countries in the region in recent years, Ethiopia's economy was held back by a devastating two-year war in the northern Tigray region.
($1 = 134.4212 birr)
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