2nd UAE TRADE EXPO
Ethiopia
Brought to you by Ethiopia Team at New
Fields
http://www.new-fields.com/ethiopia/index.htm
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Don't miss out on 2nd UAE Trade Expo .
To be held this October in Ethiopia. Catch up with all the
new developments, make new customer contacts,
initiate deals and scope the Ethiopian 65 million
marketplace.
Confirm your exhibition now, and put your finger on the
pulse beat of the $40 billion-plus Ethiopian market.
See www.new-fields.com for additional program information.
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7% Growth Projected For Ethiopia GDP In 2002
Addis Ababa, July 16,
2002 (WIC)- The United Nations Economic Commission for Africa (ECA) predicted
that the Ethiopian economy will register a seven percent (7%) GDP growth this
year as it released the annual Economic report on Africa for the year 2002
today.
Speaking at a press
conference at the UN conference Center, Director of Economic and Social Policy
Division at ECA, Patrick Asea said a number of positive developments in 2000/01
which include among others peace with Eritrea and the decline in defense
spending and cessation of hostilities that paved the way for resumption of
external assistance were positive prospects for better economic growth in
2001/02.
He added that
Ethiopia's economic performance has moved in a fair group because of the
preparation of full poverty Reduction Strategy Paper (PRSP) provides a good opportunity
to focus on alleviating poverty, addressing the spread of HIV/AIDS and sound
economic management.
Ethiopia's economic
growth for the year 2000/01 had been predicted at GDP 8.4 per cent, he said.
Asea however said that
Ethiopia should increase its spending on health and education to fully enjoy
debt relief under Highly Indebted Poor countries (HIPC) initiative.
The report indicated
that although Ethiopia's recent economic performance has been quite
encouraging, poverty still remains deep and severe with nearly half of
Ethiopians living below the poverty line.
According to Patrick
Asea, Africa was the only region to accelerate its growth in a turbulent year
of 2001 that synchronized slow down of all major economies.
He added that Africa's
average annual GDP growth for the year was 4.3 per cent with sharp disparities
among countries.
He said, "the
medium term outlook for Africa is cautiously optimistic. Positive developments
(for Africa's optimism) include the launching of Doha Development Round, Enhanced
market access to initiatives in the US Africa Growth and Opportunity Act AGOA),
the European Union's "Every Thing But Arms" initiatives and the New
partnership for African Development (NePAD), among others.
South Africa, the
continent's largest economy was rated at the top of 23 countries assessed by
the report as having good polices for investment and economic growth.
UNECA economic report
on Africa is the annual flagship publication of ECA that provides a unique
perspective on the continent's socio-economic development progress.
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