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World Bank says Ethiopia's economy to grow 10.5% in the next fiscal year

Published on June 12, 2015

The World Bank said Ethiopia's economy was expected to grow by 9.5% this fiscal year ending in June before accelerating to 10.5% for 2015/16, adding that it expected inflation to remain in single digits during this period, MoFA reported.

"If lower oil prices are passed on to consumer in the form of lower fuel prices", Lars Christian Moller, the World Bank's lead economist and program leader for Ethiopia said. "It gives additional disposable income to consumers." Mr. Moller, in an interview with Reuters, said the service and agriculture sectors were likely to drive growth, along with the booming construction sector.

Read more. Source: AllAfrica.com.