Quarterly Economic Brief 2018 (first quarter)

30 Apr 2018


Economic growth recovered from the impact of drought in 2015/16 and registered 10.9 percent annual growth in 2016/17. There is an improvement in agricultural production in 2017/18 owing to adequate rain in highlands,
however low rains persisted in pastoralist areas.
The external sector continued to suffer from sluggish export performance which led to the country being classified in high risk of external debt distress. In order to support external competitiveness of the economy 15 percent
devaluation of the Birr was undertaken in October 2017. The country is also looking in to partial privatization of major public enterprises as a part of long term solution to foreign exchange shortages, youth unemployment,
private sector participation and corruption.

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