Ethiopian Business Review

The ambitious Growth and Transformation Plan of the country, in implementation since 2010, envisions pegging the inflation rate in the economy in single digits, but it has taken more than half the period of the plan for the government to achieve this. And this has coincided with a relatively lower level of economic growth. Identified as among the main challenges of the growing economy of the nation, inflation stayed stubbornly high, reaching astronomical figures (64.2 Pct in July of 2008), for the good part of the last decade. Inflation Rate averaged 21.07 Pct from 2006 until 2013.

Published in Statistics
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Number of people registered for the 40/60 house construction scheme out lined by the Addis Ababa Housing Development Agency. Out of this number, four pct were registered for one bed room, where as 44pct and 51pct were registered for two and three bed rooms respectively. The registration, which took place from August 12 through 23, 2013, was also open for the Ethiopian Diaspora living in the different parts of the world. The registration was solely handled by the more than 100 branches of Commercial Bank of Ethiopia in the capital, unlike the other two schemes, the 90/10 and the 20/80, which had long processes handled by local Woreda offices of the city administration. Unlike these two schemes, the 40/60 scheme also gives delivery priorities for people who paid the whole cost of the houses up front. Close to ETB 52 billion will be collected when every registered individual pays the full amount. Addis Ababa Integrated Housing Development Program is a new housing program managed by Addis Ababa City Condominium Development Enterprise. The whole housing project is expected to consume about ETB67 billion upon a planned completion in five to seven years.

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Since the legislation went into effect in 2000, exports under the African Growth and Opportunity Act (AGOA) have increased by more than 500 pct, from USD8.15 billion in 2001 to USD53.8 billion in 2011. About 90 pct of these exports has  been oil, which underscores Africa’s growing strategic importance to the United States.

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