Tag Archives: economic growth

Economics Professor Debunked Ethiopia’s “Double-digit Economic Growth” Tale

The narratives of double digit economic growth of Ethiopia for over a decade was wrong and obtained as a result of cooked data
There are three kinds of lies: lies, damned lies, and statistics. In the last 20 years, the now deposed TPLF regime made corruption in Ethiopia respectable; cooking date honorable and theft virtuous. No amount of massaging the statistics will bury the ugly truth.

BY ECADFORUM

The narratives of double-digit economic growth of Ethiopia for over a decade was wrong and obtained as a result of “cooked data”, according to a high profile economics professor at the Addis Ababa University. Continue reading Economics Professor Debunked Ethiopia’s “Double-digit Economic Growth” Tale

Ethiopia’s Debt Surged to US $23B

‘Double Digit’ growth my foot. With declining exports, chronic shortages of hard currency, an insatiable demand for imports, widening trade deficit, and a crushing foreign debt, the Ethiopian economy is heading to a crisis.

BY ESAT NEWS

Ethiopia’s debt has reached a whooping $23 billion while export earnings is in downward spiral coupled with the increase in payments to loans.

In an article published in Addis Admas, a weekly local Amharic published in Addis Ababa, the writer Yohannes S. also indicates that the country’s payment to interest on loans is skyrocketing. Continue reading Ethiopia’s Debt Surged to US $23B

Economist Warn Ethiopia’s Overstretched Economy Risks Collapse

A statistical fairy tale of “11% economic growth every year” was the biggest hogwash, whitewash and brainwash the Ethiopian people have ever told by the doggone TPLF liars. Now economists fear this “economy” may eventually collapse anytime.

By Andualem Sisay | for Africa Review,

The Ethiopian government’s growing reliance on foreign loans is posing a serious risk of economic collapse, a paper presented Friday by a renowned local economist says.

“Take for instance China, which has loaned over $17 billion to the Ethiopian government for infrastructure projects. Our total investment is 40 per cent of GDP. Our savings rate is between 10-20 per cent of GDP. We import $13 billion and export $3 billion. They (China) are the ones who are filling all these deficit gaps,” said Alemayehu Geda, economics professor at Addis Ababa University and London University. Continue reading Economist Warn Ethiopia’s Overstretched Economy Risks Collapse

Ethiopia: “Double Digit” Economic Growth – Reality Check

Ethiopia’s annual harvest of shame. How the current starvation of 15 million Ethiopians unravel the deception of Ethiopia’s “double digit” economic miracle. Famine doesn’t give a hoot to the regime’s cooked rosy statistics nor does to its western media propagandists.

By Sophia Tesfamariam,

The minority regime in Ethiopia and its handlers have tried to hoodwink the Ethiopian people and the international community by misrepresenting facts about the country and its economy. With the western media in tow, Ethiopia’s leaders reported “double digit” economic growth in Ethiopia and labeled it “one of Africa’s top performing economies”. Continue reading Ethiopia: “Double Digit” Economic Growth – Reality Check

Eritrea’s 2015 Economic Outlook

Eritrea’s economic growth is projected at 2.1% in 2015, up from 1.3% in 2013 and 2.0% in 2014, reflecting improved economic activity and increased investment in the mining sector. Continued improvements in public financial management, progress towards implementation of the Drought Resilience and Sustainable Livelihoods Programme (DRSLP) and enhanced skills development have created favorable medium-term prospects. It’s effort to promote growth based on a sectorial strategy, however, is now being threatened by increasing social and territorial disparities.

By Nyende Magidu,

ERITREA is aiming at creating a modern, private sector-led economy (Macro Policy 1994; National Indicative Development Plan 2014-2018). Attaining this objective is, however, compromised by an inadequately enabling investment and business environment, United Nations sanctions, and overall weak macroeconomic conditions.

Real GDP growth is projected to increase from 2.0% in 2014 to 2.1% in 2015, double the rate recorded in 2013, because of increasing investments in the mining sector. Over the medium term, the government sees further prospects in improved trade with Middle-Eastern and Asian countries, additional mining activities, the growth of the food sector and the development of the tourist industry.  Continue reading Eritrea’s 2015 Economic Outlook

How Did Ghana Fell Off the African Success Wagon?

President Obama was fan of Ghana’s economic success record, but cheers haven’t been enough to keep the country on the rails. But what went wrong?

By Adam Minter,

JUST a few years ago, Ghana seemed to be one of Africa’s few good news stories. The country was on a path to paying back the international creditors it had relied on for decades, and was widely lauded for managing five peaceful and democratic transitions of power since 1992.

When U.S. President Barack Obama visited the country in 2012, he called it “a wonderful success story economically,” and praised its government for “working for the people of Ghana, and not just the few.”  Continue reading How Did Ghana Fell Off the African Success Wagon?