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25 October - Tigray War peace talks mediated by the African Union is formally being held for the first time in Johannesburg, South Africa. [3] ... 2022 in Ethiopia.
Between 1960 and 1970, Ethiopia enjoyed an annual 4.4% growth rate in its per capita and overall gross domestic product (GDP). There was an increase in the manufacturing growth rate from 1.9% in 1960–1961 to 4.4% in 1973–74, with the wholesale, retail trade, transportation, and communication sectors increasing from 9.5% to 15.6%.
Ethiopia had an average inflation rate of 26% in 2021 and 30% in 2022, something that was largely driven by a rise in food prices; [27] in February 2023, the overall inflation rate reached 32%, [28] and Ethiopia continued to experience high inflation by September 2023, with commonly purchased food items becoming more expensive. [29]
For instance, graduate unemployment is relative to total unemployment increased from 2.6% in 2014 to 6.61% in 2018 in Ethiopia. [1] As of 2022, the Ministry of Education planned to create jobs for 80% or more graduate students who complete their studies annually over the past three years, thereby improving the employability rate. [10]
Ethiopia reached a separate debt-service suspension deal with China earlier in 2023. Ethiopia has been without an IMF program since its last lending arrangement with the fund expired in late 2022.
In late 1990s, the Office for Revision of Addis Ababa's Master Plan (ORAAMP) and National Urban Planning Institute (NUPI) were launched to analyze the economic status of the city. The city covered 29% of Ethiopia's GDP (59.5 Billions $ in 2024) and 20% of national urban development as of 2022. Commercial Bank of Ethiopia in Addis Ababa
Ethiopia's economy experienced strong, broad-based growth averaging 9.4% a year from 2010/11 to 2019/20. Ethiopia's real gross domestic product (GDP) growth slowed down to 6.1% in 2019/20 due to the COVID-19 pandemic. [80] Industry, mainly construction, and services accounted for most of the growth.
The paper was founded by Emperor Haile Selassie following the liberation of the country, and its name refers to the liberation of Ethiopia from Italian colonial rule. [3] The paper was launched as a four-page weekly on 7 June 1941. [1] Its first editor-in-chief was Amde Mikael Desalegn. [1]