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The First Five-Year Plan (1957–1961) sought to develop strong infrastructure, particularly in transportation, construction, and communications, to link isolated regions. [41] The Second Five-Year Plan (1962–1967) signaled the start of a 20-year program to change Ethiopia's predominantly agricultural economy to an agro-industrial one. [41]
The Growth and Transformation Plan (GTP) was a national five-year plan created by the Ethiopian government to improve the country's economy by achieving a projected gross domestic product (GDP) growth of 11-15% per year from 2010 to 2015. The plan included details of the cost (estimated at US$75–79 billion over the five years) and specific ...
PPP largely removes the exchange rate problem, but has its own drawbacks; it does not reflect the value of economic output in international trade, and it also requires more estimation than nominal GDP. [4] On the whole, PPP per capita figures are more narrowly spread than nominal GDP per capita figures. [5]
The figures are from the International Monetary Fund (IMF) World Economic Outlook Database, unless otherwise specified. [1] This list is not to be confused with the list of countries by real GDP per capita growth, which is the percentage change of GDP per person taking into account the changing population of the country.
Economic growth in the early 2020s According to 2024 estimates by the African Development Bank Group, African countries are projected to account for more than half of the world fastest growing economies; in particular, Niger, Senegal, Libya and Rwanda are expected to grow at the fastest rate of over 7% per year. Estimates of Real Gross Domestic Product (GDP) growth rate in 2023 show that most ...
The second five-year plan (1962-67) began a 20-year program to change Ethiopia's predominantly agricultural economy to an agro-industrial one. [1] The plan's objectives included diversification of production, introduction of modern processing methods, and expansion of the economy's productive capacity to increase the country's growth rate. [1]
These figures have been taken from the International Monetary Fund's World Economic Outlook (WEO) Database (October 2024 edition) and/or other sources. [1] For older GDP trends, see List of regions by past GDP (PPP).
Historical GDP per capita growth from 1950 to 2018. Ethiopia has achieved economic growth of more than 7% in the past decade. During Meles Zenawi's administration, Ethiopia boosted the fastest economic growth in Africa in terms of GDP with double-digit economic growth for his last nine years, resuming seven years after his death when his party ...