Economy IMF projects Ethiopia, Angola economies to overtake KenyaPresident William Ruto arrived in Addis Ababa, Ethiopia, for bilateral talks with Prime Minister Abiy Ahmed and the launch of Safaricom Ethiopia. The IMF expects the economies of Ethiopia and Angola this year to expand by 13.5 percent and 8.6 percent respectively on dollar terms. The IMF projects Kenya’s GDP to hit $117.6 billion this year, behind Nigeria ($574 billion), South Africa ($422 billion), Angola ($135 billion) and Ethiopia ($126.2 billion). Until the civil war broke out in November 2020, Ethiopia — Africa’s second-most populous country with over 115 million people — had been regarded by development economists as a success story. “Yes, the IMF forecasts are showing that both Angola and Ethiopia are going to be larger than Kenya in 2023 in nominal USD terms.

Source: Ethiopian News January 25, 2023 07:04 UTC