Ethiopia’s Growth and Transformation Plan –nearing the half-way mark

Ethiopia’s economy is growing very fast, in fact, the fastest growing non-oil economy in Africa and one of the top ten fastest growing economies in the world. Ethiopia’s GDP has been growing with an average of 11.2% for the last eight consecutive years and much faster than average annual growth in Africa as a whole (nearly 6 percent). Ethiopia’s per capita income has more than doubled over the same period. According to the Economist, Ethiopia is forecast to be the third-fastest growing country in the world over the next five years, after China and India and at this early stage of the GTP implementation, the country has begun to see encouraging improvements in all aspects. According to ranking of The World Bank’s 2010 “Doing Business” Ethiopia ranks higher in doing business than three out of the four BRIC countries with only China higher.