Ethiopia has reported a 9.6 percent avarage economic growth over the past three years, the ruling party of the country has announced on Thursday.In a communique it issued on Thursday, the Ethiopian Peoples’ Revolutionary Front (EPRDF) said the average GDP registered during the period was 9.6 percent, with 5.7 percent growth in agriculture, 19.1 in industry and 10.3 percent in the services. The average GDPgrowth over the past three years has declined from 10.1 percent in the previous yeas to 9.6 percent over the past three years, it noted. The Executive Committee has passed resolutions that will help boost the country’s economy, following extensive discussion about the economy of the country. Consequently, inflation reached 13.1 percent at the end of the Ethiopian fiscal year which ended on July 8,2018. The committee recalled that short-term loans which resulted in significantly increasing foreign loan were suspended indefinitely.

Source: Ethiopian News May 09, 2019 14:03 UTC