Second Ethiopia Economic Update : Laying the Foundation for Achieving Middle Income Status
Over the past decade, Ethiopia has achieved high economic growth, averaging 10.7 percent per year. In 2012, Ethiopia was the 12th fastest growing economy in the World. If the country can continue its historically impressive growth performance, it c...
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| Format: | Economic Updates and Modeling |
| Language: | English en_US |
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Washington, DC
2014
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| Online Access: | http://hdl.handle.net/10986/16740 |
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okr-10986-16740 |
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okr-10986-167402017-12-14T08:55:47Z Second Ethiopia Economic Update : Laying the Foundation for Achieving Middle Income Status World Bank AGGREGATE DEMAND AGRICULTURE BALANCE OF PAYMENTS BANK ACCOUNT BANK ASSETS BANK BRANCH BANK BRANCH NETWORKS BANK BRANCHES BANK DEBT BANK FINANCING BANKING SECTOR BANKING SECTOR ASSETS BANKING SYSTEM BANKING SYSTEMS BASE YEAR BID BLACK MARKET BOND BOND INVESTMENTS BONDS BRANCH NETWORKS BROAD MONEY BUDGETING CAPITAL FORMATION CAPITAL OUTLAYS CENTRAL BANK CENTRAL BANKS CERTIFICATES OF DEPOSIT COMMERCIAL BANK COMMERCIAL BANKS COMMERCIAL TERMS COMMODITY PRICES COMPETITIVE BIDDING COMPETITIVE TENDERS COMPETITIVENESS CONSUMER GOODS CREDIT GROWTH CREDITORS CURRENCY CURRENCY APPRECIATION CURRENCY DEPRECIATION CURRENCY DEVALUATIONS CURRENT ACCOUNT CURRENT ACCOUNT DEFICIT DEBT DEBT BURDEN DEBT MANAGEMENT DEBT RATIOS DEBT RELIEF DEBT SERVICE DEPOSITS DEVELOPMENT ASSISTANCE DEVELOPMENT BANK DISBURSEMENT DISBURSEMENTS DISPOSABLE INCOME DOMESTIC BANKING DOMESTIC CREDIT DOMESTIC LIQUIDITY ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC DEVELOPMENTS ECONOMIC GROWTH ECONOMIC OUTLOOK ECONOMIC PERFORMANCE ECONOMIC POLICY ECONOMIC SECTORS EXCESS LIQUIDITY EXCHANGE RATE EXCHANGE RATES EXPENDITURE EXPENDITURES EXPORT COMPETITIVENESS EXPORT GROWTH EXPORT PERFORMANCE EXTERNAL BORROWING EXTERNAL DEBT FINANCES FINANCIAL DEVELOPMENT FINANCIAL INTERMEDIATION FINANCIAL LITERACY FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FISCAL POLICY FIXED CAPITAL FIXED INVESTMENT FORECASTS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET FOREIGN EXCHANGE RESERVES FREE TRADE GDP GDP DEFLATOR GDP PER CAPITA GENERALIZED SYSTEM OF PREFERENCES GINI COEFFICIENT GOVERNMENT BONDS GOVERNMENT INVESTMENT GOVERNMENT POLICIES GOVERNMENT REVENUE GOVERNMENT REVENUES GOVERNMENT SAVING GOVERNMENT SAVINGS GROSS DOMESTIC PRODUCT GROSS NATIONAL SAVINGS GROWTH OPPORTUNITY GROWTH RATE HOUSEHOLD SAVINGS HUMAN DEVELOPMENT IMPORT COSTS INCOME INCOME GROWTH INCOME LEVEL INFLATION INFLATION RATE INFLATION RATES INFLATIONARY PRESSURE INFORMAL SAVINGS INFRASTRUCTURE INVESTMENTS INSTRUMENT INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCE INVENTORIES INVESTMENT ACTIVITIES INVESTMENT ACTIVITY INVESTMENT DECISIONS INVESTMENT FINANCING INVESTMENT PROCEEDS INVESTMENT PROJECTS INVESTMENT PROPOSALS INVESTMENT RATE INVESTMENT RATES INVESTMENT STRATEGY KEY CHALLENGE LABOR MARKET LIQUIDITY LIQUIDITY POSITION LOAN LOAN CONTRACT LOAN TERM LOANABLE FUNDS LOCAL CURRENCY M2 MACROECONOMIC ENVIRONMENT MACROECONOMIC POLICIES MACROECONOMIC STABILITY MARKET PRICE MATURITY MICRO FINANCE MICRO FINANCE INSTITUTIONS MICRO FINANCING MICRO-FINANCE MICRO-FINANCE INSTITUTIONS MONETARY AUTHORITIES MONETARY FUND MONETARY POLICY MONEY MULTIPLIER MONEY SUPPLY NATIONAL BANK NATIONAL INCOME NATIONAL SAVING NET EXPORTS NOMINAL INTEREST RATE NON-PERFORMING LOAN NON-PERFORMING LOANS OPEN MARKET OPEN MARKET OPERATIONS OUTPUT PER CAPITA PENSION PENSION SYSTEM PER CAPITA INCOME PRIVATE BANKS PRIVATE INVESTMENT PRIVATE SECTOR CREDIT PUBLIC BANKS PUBLIC DEBT PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC SAVING PUBLIC SAVINGS PUBLIC SECTOR DEBT QUANTITY THEORY OF MONEY REAL EXCHANGE RATE REAL GDP REAL INTEREST REAL INTEREST RATE REAL INTEREST RATES RECURRENT EXPENDITURES REMITTANCES RESERVE RESERVE REQUIREMENT RESERVE REQUIREMENTS RESERVES RETURN SAVINGS SAVINGS RATE SAVINGS RATES SAVINGS SCHEMES STRUCTURAL CHANGE SUPPLY CHAIN T-BILLS TAX TAX COLLECTION TAX RATES TAX REVENUES TAXATION TERMS OF CREDIT TOTAL OUTPUT TRADE BALANCE TRADE DEFICIT TRADING TRANSPARENCY TREASURY TREASURY BILL TREASURY BILL RATE UNEMPLOYMENT UNEMPLOYMENT RATE VALUE ADDED VELOCITY OF MONEY WAREHOUSES WORLD TRADE ORGANIZATION WTO Over the past decade, Ethiopia has achieved high economic growth, averaging 10.7 percent per year. In 2012, Ethiopia was the 12th fastest growing economy in the World. If the country can continue its historically impressive growth performance, it could potentially reach middle income status by 2025. This, in turn, may require an adjustment in economic policy to phase in the private sector as an additional engine of growth. Moreover, Ethiopia needs to make progress on two related important fronts: enhancing domestic savings, and, resolving the bottlenecks of the trade logistics system. This Second Ethiopia economic update, prepared in collaboration with the Government of Ethiopia, offers policy guidance on how to move forward. Chapter one discusses Ethiopia's growth strategy, which emphasizes a strong expansion of public investment. This model has delivered impressive results, although the underlying macro policy mix highlights important challenges going forward suggesting that an adjustment to strategy may be warranted. One policy challenge relates to raising sufficient domestic savings to finance one of the highest public investment rates in the world, as discussed in chapter two. Another challenge relates to strengthening the competitiveness of the economy, to boost the lagging export performance, and attract foreign direct investment. Ethiopia's trade logistics system is a key constraint in this regard, as highlighted in chapter three. 2014-01-30T19:26:41Z 2014-01-30T19:26:41Z 2013-06 http://hdl.handle.net/10986/16740 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Economic Updates and Modeling Economic & Sector Work Africa Ethiopia |
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Digital Repository |
| institution_category |
Foreign Institution |
| institution |
World Bank |
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World Bank Open Knowledge Repository |
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Online Access |
| language |
English en_US |
| topic |
AGGREGATE DEMAND AGRICULTURE BALANCE OF PAYMENTS BANK ACCOUNT BANK ASSETS BANK BRANCH BANK BRANCH NETWORKS BANK BRANCHES BANK DEBT BANK FINANCING BANKING SECTOR BANKING SECTOR ASSETS BANKING SYSTEM BANKING SYSTEMS BASE YEAR BID BLACK MARKET BOND BOND INVESTMENTS BONDS BRANCH NETWORKS BROAD MONEY BUDGETING CAPITAL FORMATION CAPITAL OUTLAYS CENTRAL BANK CENTRAL BANKS CERTIFICATES OF DEPOSIT COMMERCIAL BANK COMMERCIAL BANKS COMMERCIAL TERMS COMMODITY PRICES COMPETITIVE BIDDING COMPETITIVE TENDERS COMPETITIVENESS CONSUMER GOODS CREDIT GROWTH CREDITORS CURRENCY CURRENCY APPRECIATION CURRENCY DEPRECIATION CURRENCY DEVALUATIONS CURRENT ACCOUNT CURRENT ACCOUNT DEFICIT DEBT DEBT BURDEN DEBT MANAGEMENT DEBT RATIOS DEBT RELIEF DEBT SERVICE DEPOSITS DEVELOPMENT ASSISTANCE DEVELOPMENT BANK DISBURSEMENT DISBURSEMENTS DISPOSABLE INCOME DOMESTIC BANKING DOMESTIC CREDIT DOMESTIC LIQUIDITY ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC DEVELOPMENTS ECONOMIC GROWTH ECONOMIC OUTLOOK ECONOMIC PERFORMANCE ECONOMIC POLICY ECONOMIC SECTORS EXCESS LIQUIDITY EXCHANGE RATE EXCHANGE RATES EXPENDITURE EXPENDITURES EXPORT COMPETITIVENESS EXPORT GROWTH EXPORT PERFORMANCE EXTERNAL BORROWING EXTERNAL DEBT FINANCES FINANCIAL DEVELOPMENT FINANCIAL INTERMEDIATION FINANCIAL LITERACY FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FISCAL POLICY FIXED CAPITAL FIXED INVESTMENT FORECASTS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET FOREIGN EXCHANGE RESERVES FREE TRADE GDP GDP DEFLATOR GDP PER CAPITA GENERALIZED SYSTEM OF PREFERENCES GINI COEFFICIENT GOVERNMENT BONDS GOVERNMENT INVESTMENT GOVERNMENT POLICIES GOVERNMENT REVENUE GOVERNMENT REVENUES GOVERNMENT SAVING GOVERNMENT SAVINGS GROSS DOMESTIC PRODUCT GROSS NATIONAL SAVINGS GROWTH OPPORTUNITY GROWTH RATE HOUSEHOLD SAVINGS HUMAN DEVELOPMENT IMPORT COSTS INCOME INCOME GROWTH INCOME LEVEL INFLATION INFLATION RATE INFLATION RATES INFLATIONARY PRESSURE INFORMAL SAVINGS INFRASTRUCTURE INVESTMENTS INSTRUMENT INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCE INVENTORIES INVESTMENT ACTIVITIES INVESTMENT ACTIVITY INVESTMENT DECISIONS INVESTMENT FINANCING INVESTMENT PROCEEDS INVESTMENT PROJECTS INVESTMENT PROPOSALS INVESTMENT RATE INVESTMENT RATES INVESTMENT STRATEGY KEY CHALLENGE LABOR MARKET LIQUIDITY LIQUIDITY POSITION LOAN LOAN CONTRACT LOAN TERM LOANABLE FUNDS LOCAL CURRENCY M2 MACROECONOMIC ENVIRONMENT MACROECONOMIC POLICIES MACROECONOMIC STABILITY MARKET PRICE MATURITY MICRO FINANCE MICRO FINANCE INSTITUTIONS MICRO FINANCING MICRO-FINANCE MICRO-FINANCE INSTITUTIONS MONETARY AUTHORITIES MONETARY FUND MONETARY POLICY MONEY MULTIPLIER MONEY SUPPLY NATIONAL BANK NATIONAL INCOME NATIONAL SAVING NET EXPORTS NOMINAL INTEREST RATE NON-PERFORMING LOAN NON-PERFORMING LOANS OPEN MARKET OPEN MARKET OPERATIONS OUTPUT PER CAPITA PENSION PENSION SYSTEM PER CAPITA INCOME PRIVATE BANKS PRIVATE INVESTMENT PRIVATE SECTOR CREDIT PUBLIC BANKS PUBLIC DEBT PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC SAVING PUBLIC SAVINGS PUBLIC SECTOR DEBT QUANTITY THEORY OF MONEY REAL EXCHANGE RATE REAL GDP REAL INTEREST REAL INTEREST RATE REAL INTEREST RATES RECURRENT EXPENDITURES REMITTANCES RESERVE RESERVE REQUIREMENT RESERVE REQUIREMENTS RESERVES RETURN SAVINGS SAVINGS RATE SAVINGS RATES SAVINGS SCHEMES STRUCTURAL CHANGE SUPPLY CHAIN T-BILLS TAX TAX COLLECTION TAX RATES TAX REVENUES TAXATION TERMS OF CREDIT TOTAL OUTPUT TRADE BALANCE TRADE DEFICIT TRADING TRANSPARENCY TREASURY TREASURY BILL TREASURY BILL RATE UNEMPLOYMENT UNEMPLOYMENT RATE VALUE ADDED VELOCITY OF MONEY WAREHOUSES WORLD TRADE ORGANIZATION WTO |
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AGGREGATE DEMAND AGRICULTURE BALANCE OF PAYMENTS BANK ACCOUNT BANK ASSETS BANK BRANCH BANK BRANCH NETWORKS BANK BRANCHES BANK DEBT BANK FINANCING BANKING SECTOR BANKING SECTOR ASSETS BANKING SYSTEM BANKING SYSTEMS BASE YEAR BID BLACK MARKET BOND BOND INVESTMENTS BONDS BRANCH NETWORKS BROAD MONEY BUDGETING CAPITAL FORMATION CAPITAL OUTLAYS CENTRAL BANK CENTRAL BANKS CERTIFICATES OF DEPOSIT COMMERCIAL BANK COMMERCIAL BANKS COMMERCIAL TERMS COMMODITY PRICES COMPETITIVE BIDDING COMPETITIVE TENDERS COMPETITIVENESS CONSUMER GOODS CREDIT GROWTH CREDITORS CURRENCY CURRENCY APPRECIATION CURRENCY DEPRECIATION CURRENCY DEVALUATIONS CURRENT ACCOUNT CURRENT ACCOUNT DEFICIT DEBT DEBT BURDEN DEBT MANAGEMENT DEBT RATIOS DEBT RELIEF DEBT SERVICE DEPOSITS DEVELOPMENT ASSISTANCE DEVELOPMENT BANK DISBURSEMENT DISBURSEMENTS DISPOSABLE INCOME DOMESTIC BANKING DOMESTIC CREDIT DOMESTIC LIQUIDITY ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC DEVELOPMENTS ECONOMIC GROWTH ECONOMIC OUTLOOK ECONOMIC PERFORMANCE ECONOMIC POLICY ECONOMIC SECTORS EXCESS LIQUIDITY EXCHANGE RATE EXCHANGE RATES EXPENDITURE EXPENDITURES EXPORT COMPETITIVENESS EXPORT GROWTH EXPORT PERFORMANCE EXTERNAL BORROWING EXTERNAL DEBT FINANCES FINANCIAL DEVELOPMENT FINANCIAL INTERMEDIATION FINANCIAL LITERACY FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FISCAL POLICY FIXED CAPITAL FIXED INVESTMENT FORECASTS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET FOREIGN EXCHANGE RESERVES FREE TRADE GDP GDP DEFLATOR GDP PER CAPITA GENERALIZED SYSTEM OF PREFERENCES GINI COEFFICIENT GOVERNMENT BONDS GOVERNMENT INVESTMENT GOVERNMENT POLICIES GOVERNMENT REVENUE GOVERNMENT REVENUES GOVERNMENT SAVING GOVERNMENT SAVINGS GROSS DOMESTIC PRODUCT GROSS NATIONAL SAVINGS GROWTH OPPORTUNITY GROWTH RATE HOUSEHOLD SAVINGS HUMAN DEVELOPMENT IMPORT COSTS INCOME INCOME GROWTH INCOME LEVEL INFLATION INFLATION RATE INFLATION RATES INFLATIONARY PRESSURE INFORMAL SAVINGS INFRASTRUCTURE INVESTMENTS INSTRUMENT INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCE INVENTORIES INVESTMENT ACTIVITIES INVESTMENT ACTIVITY INVESTMENT DECISIONS INVESTMENT FINANCING INVESTMENT PROCEEDS INVESTMENT PROJECTS INVESTMENT PROPOSALS INVESTMENT RATE INVESTMENT RATES INVESTMENT STRATEGY KEY CHALLENGE LABOR MARKET LIQUIDITY LIQUIDITY POSITION LOAN LOAN CONTRACT LOAN TERM LOANABLE FUNDS LOCAL CURRENCY M2 MACROECONOMIC ENVIRONMENT MACROECONOMIC POLICIES MACROECONOMIC STABILITY MARKET PRICE MATURITY MICRO FINANCE MICRO FINANCE INSTITUTIONS MICRO FINANCING MICRO-FINANCE MICRO-FINANCE INSTITUTIONS MONETARY AUTHORITIES MONETARY FUND MONETARY POLICY MONEY MULTIPLIER MONEY SUPPLY NATIONAL BANK NATIONAL INCOME NATIONAL SAVING NET EXPORTS NOMINAL INTEREST RATE NON-PERFORMING LOAN NON-PERFORMING LOANS OPEN MARKET OPEN MARKET OPERATIONS OUTPUT PER CAPITA PENSION PENSION SYSTEM PER CAPITA INCOME PRIVATE BANKS PRIVATE INVESTMENT PRIVATE SECTOR CREDIT PUBLIC BANKS PUBLIC DEBT PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC SAVING PUBLIC SAVINGS PUBLIC SECTOR DEBT QUANTITY THEORY OF MONEY REAL EXCHANGE RATE REAL GDP REAL INTEREST REAL INTEREST RATE REAL INTEREST RATES RECURRENT EXPENDITURES REMITTANCES RESERVE RESERVE REQUIREMENT RESERVE REQUIREMENTS RESERVES RETURN SAVINGS SAVINGS RATE SAVINGS RATES SAVINGS SCHEMES STRUCTURAL CHANGE SUPPLY CHAIN T-BILLS TAX TAX COLLECTION TAX RATES TAX REVENUES TAXATION TERMS OF CREDIT TOTAL OUTPUT TRADE BALANCE TRADE DEFICIT TRADING TRANSPARENCY TREASURY TREASURY BILL TREASURY BILL RATE UNEMPLOYMENT UNEMPLOYMENT RATE VALUE ADDED VELOCITY OF MONEY WAREHOUSES WORLD TRADE ORGANIZATION WTO World Bank Second Ethiopia Economic Update : Laying the Foundation for Achieving Middle Income Status |
| geographic_facet |
Africa Ethiopia |
| description |
Over the past decade, Ethiopia has
achieved high economic growth, averaging 10.7 percent per
year. In 2012, Ethiopia was the 12th fastest growing economy
in the World. If the country can continue its historically
impressive growth performance, it could potentially reach
middle income status by 2025. This, in turn, may require an
adjustment in economic policy to phase in the private sector
as an additional engine of growth. Moreover, Ethiopia needs
to make progress on two related important fronts: enhancing
domestic savings, and, resolving the bottlenecks of the
trade logistics system. This Second Ethiopia economic
update, prepared in collaboration with the Government of
Ethiopia, offers policy guidance on how to move forward.
Chapter one discusses Ethiopia's growth strategy, which
emphasizes a strong expansion of public investment. This
model has delivered impressive results, although the
underlying macro policy mix highlights important challenges
going forward suggesting that an adjustment to strategy may
be warranted. One policy challenge relates to raising
sufficient domestic savings to finance one of the highest
public investment rates in the world, as discussed in
chapter two. Another challenge relates to strengthening the
competitiveness of the economy, to boost the lagging export
performance, and attract foreign direct investment.
Ethiopia's trade logistics system is a key constraint
in this regard, as highlighted in chapter three. |
| format |
Economic & Sector Work :: Economic Updates and Modeling |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Second Ethiopia Economic Update : Laying the Foundation for Achieving Middle Income Status |
| title_short |
Second Ethiopia Economic Update : Laying the Foundation for Achieving Middle Income Status |
| title_full |
Second Ethiopia Economic Update : Laying the Foundation for Achieving Middle Income Status |
| title_fullStr |
Second Ethiopia Economic Update : Laying the Foundation for Achieving Middle Income Status |
| title_full_unstemmed |
Second Ethiopia Economic Update : Laying the Foundation for Achieving Middle Income Status |
| title_sort |
second ethiopia economic update : laying the foundation for achieving middle income status |
| publisher |
Washington, DC |
| publishDate |
2014 |
| url |
http://hdl.handle.net/10986/16740 |
| _version_ |
1610777240543428608 |