Ethiopia’s economic growth among world’s highest – UNDP

Posted by: APA Posted date : April 29, 2015 at 6:24 pm UTC 175 views In : Business

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Ethiopia has achieved impressive economic and social changes, registering some of the highest growth rates in the world, according to the UNDP’s Human Development report covering the country .“Ethiopia sees steady increase in its human Development index from 0.35 in 2005 to 0.461 in 2013.

“This is an impressive annual average change of 3.5 growth�, UNDP Ethiopia Resident Representative Eugene Owusu said while launching the report in Addis Ababa on Wednesday.

The key findings of the report shows Ethiopia can move from its current ‘low human development’ designation to a medium human development category by 2025 if it sustains the current growth trend.

However the report has indicated that the country’s relative ranking has not moved appreciably during the past decade.

“The progress is tempered by the fact that although incidence of poverty has declined, its severity in increasing.

“There is also the sobering reality that some 25 million Ethiopians are still living below the poverty line,� Owusu says.

The report highlights that the absolute number of poor people has remained largely unchanged over the last 15 years as result of high population growth.

According to the report, Ethiopia’s strong economic growth has helped to reduce poverty since 2005.

“25 million people have been lifted out of poverty and incidence of poverty fell from 38.7 percent in 2004/05 to 29.6 percent in 2010/11 and estimated to have further declined to 26 percent in 2012/13�, the report indicates.