Eritrea Forecasted to be Fastest Growing Economy in Horn (VIDEO)

Finally the die hard, pro-TPLF, anti-Eritrea, Ethiopian News Paper has forced to swallow the hard facts of Eritrean development without any grain of salt

By The [Ethiopian] Reporter,

The annual publication of the IMF, World Economic Outlook, has forecasted the Eritrea economy to be the fastest growing in the Horn of Africa in 2012, registering a real GDP growth of 7.5 percent in the period. Released on April 17 the report indicates that Eritrea’s growth would be driven by strong mineral export, agricultural output and infrastructural development.

The forecast also shows that the GDP growth of the neighbouring Ethiopia would be 5 percent for the period in question, a decline from the 7.5 percent of 2011.

The report further anticipates the consumer price index in Eritrea to go down to 12.3 percent in the year from 13 percent from in 2011. The data also shows that the real GDP growth for the year 2013 will continue at 3.4 percent but forecasts the country to actually experience negative real GDP growth of 3.2 percent for the year 2017. At the same time the forecast puts the figures for Ethiopia at 5.5 and 6.5 percent, respectively for 2012 and 2017.

According to the data of the [Ethiopian] Central Statistical Authority (CSA), the headline inflation for the month of April has gone down from its mid-thirties figure of the past couple of months to 29.8%. According to CSA, the decline is marked by the major price change in the food basket of the consumer price index due to high agricultural harvest recorded in the year.

On the other hand, regionally, the report said Sudan’s economy has shown a decline of 3.9 percent last year while it was also expected to continue the decline and do it big 2012, which is to decelerate by -7.3 percent. Following the secession of South Sudan, a major shock to Sudan’s oil revenue and recurrent conflict with its southern neighbour is said to be hurting the one strong economy of the Horn.

[Fast Forward to 12:30s]

– – – – – – – – – – – – –

Advertisements

3 responses to “Eritrea Forecasted to be Fastest Growing Economy in Horn (VIDEO)

  1. You have posted this information before citing IMF as a source. That was enoungh and I am sure all Eritreans regardless their political coloring will be happy and proud. However, posting the same information again citing Ethiopian opposition as your source will lower the credibility and distroy the image of this web.

  2. Hi rez1947:

    In our previous article ( http://www.tesfanews.net/archives/7803 ), we have indicated the source for 'Eritrea's 7.5% economic growth for 2012' as the IMF. The above article has also acknowledged IMF as its source for Eritrea's leading fastest economy in the horn of Africa for 2012.

    As long as we indicate you our source for the said article, you can only question their credibility but not ours.

    At the same time, the idea of posting this article from an anti-Eritrea, TPLF funded newspaper was to show you how they have started to feel defeated and began admitting publicly that indeed their evil designed, western funded conspiracy to strangulate Eritrea's economic development has gone in to vapour.

    That's the main thing we want you to get it out of the article. Otherwise, we haven't posted an Ethiopian opposition, anti-Eritrea article here and has never done it before. It all depends on how you see it. You are entitled to your opinion though.

    In any case, we value your opinion and we do encouraged when we receive such criticisms and advice in a civil way.

    Thanks and keep spreading the good news of Eritrea as much as you can.

  3. Good to know you can take constructive criticism. I do appreciate your blog although perhaps it could be updated even more frequently(just a thought). On the other hand with regards to this article you’d be hard pressed to find any proof of ‘Reporter’ being a pro-TPLF and funded publication. Infact it is very much against most of their policies. The owner, who is also editor-in-cheif, has been arrested by them countless times. he has now reverted to a subtle and clever way of criticising them on every issue.

Comments are closed.