Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Ethiopia: IMF Predicts Economic Growth in 2021 to be 0%

Tue 03 Nov 2020 | 09:45 PM
Ezzeldin Essam Ezzeldin

Today, the International Monetary Fund (IMF) stated that the economic growth for Ethiopia in 2021 will be zero.

IMF issued a report that indicated how African countries' economies had been affected severely by the Covid-19 pandemic.

According to the report, the economic growth of African countries in 2020 significantly dropped due to the pandemic restrictions and a worse forecast is expected to 2021.

Also, the report stated that this year very few countries had positive improvements while the rest had been impacted negatively.

Although, the IMF forecast the county's growth to be at 1.9%, the Ethiopian government stated that the growth for 2020 is at 6.1%.

IMF latest report states that South Sudan's real GDP growth is at the top standing at 4.1% followed by Benin and Rwanda with 2% growth each.

Economies that mainly relied on tourism like Mauritius and Seychelles had been seriously affected by the pandemic.

IMF in its report said that the late arrival of the pandemic in Ethiopia messed up the third quarter of 2020 and that many aspects of the economy had been affected badly.