Ethiopia, Africa's second-most populous country, is expected to be the fastest-growing economy in sub-Saharan Africa this year, according to new IMF data.
Ethiopia's economy is expected to grow by 8.5 percent this year. The numbers point to continued economic expansion after a long period of impressive growth. Over the last decade, Ethiopia has averaged 10 percent economic growth, according to the IMF.
To stimulate the economy, the country is pursuing a number of large-scale infrastructure projects, including the Grand Renaissance Dam and a rail network. "(Ethiopia) has had a very high growth rate and I think that's a result in large part of a very concentrated effort by the government to boost industrial production and manufacturing," said Vijaya Ramachandran, an economist at the American think tank Center for Global Development (CGD). Ramachandran, along with three academics, released a report suggesting Ethiopia can follow in China's footsteps, and become a destination for low-wage manufacturing jobs. Räägi sõbrale... #AFRICA
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