![]() ![]() The business climate is undergoing significant changes with broad policy reforms. However, agriculture was not significantly affected by the pandemic according to the World Bank. ![]() Among other factors, growth was led by capital accumulation, in particular, through public infrastructure investments. Ethiopia’s real gross domestic product (GDP) growth slowed down to 6.3% in FY2020/21 compared to the previous year’s historic growth due to COVID-19, with growth in industry and services easing to single digits. Over the 15 years until 2019, Ethiopia’s economy had been amongst the fastest growing in the world at an average of 9.5 % per year. Heading into 2023, however, conditions appear to be emerging for the economy to possibly move away from a conflict mode and towards recovery and reconstruction.
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