The Ethiopian economy is primarily based on agriculture, which accounts for about 40% of the country's GDP and employs about 80% of the population. Ethiopia has one of the fastest growing economies in Africa, with an average of 10% annual growth over the past decade. The government’s efforts to invest in infrastructure, such as roads, railways, and energy, have helped to boost economic growth and increase foreign investment.
However, there are several challenges that the economy is facing. The main challenge is poverty, with over 20 million people living below the poverty line. The country is also facing high levels of unemployment, particularly among the youth. In addition, the Ethiopian economy is vulnerable to external shocks, such as droughts and fluctuations in global commodity prices.
The government has developed a number of strategies to address these challenges and promote socio-economic development. One of these strategies is the Growth and Transformation Plan (GTP), which aims to achieve middle-income status by 2025. The plan focuses on developing infrastructure, promoting industrialization, and increasing agricultural productivity.
There are also promising prospects for the economy, particularly in the manufacturing sector. Ethiopia’s low labor costs and strategic location in East Africa make it an attractive destination for foreign investors. The government is also promoting export-oriented manufacturing, which has the potential to increase foreign exchange earnings and reduce the country’s dependence on agricultural exports.
Overall, while the Ethiopian economy has made significant progress in recent years, there are still significant challenges to overcome. The government’s commitment to investment in infrastructure and industrialization, combined with efforts to address poverty and unemployment, are important steps towards achieving sustained socio-economic development.
6,assess the general features of ethiopian economy and the challenges and prospects of socio economic development of ethiopia?
5 answers
Chapter five
Macro economics policy debates stabilization what mean by amharic?
Macro economics policy debates stabilization what mean by amharic?
In Amharic, stabilization can be translated as "ማክሰኞችን ተላልፏል" (makasenoch talaalasalla). Stabilization refers to the actions taken by policymakers to stabilize the economy and maintain stable economic conditions. This includes measures taken to control inflation, unemployment, and economic growth, as well as managing the balance of payments and the exchange rate. The goal of stabilization policies is to promote macroeconomic stability, which is essential for sustained economic growth and development.
Chapter five
Macro economics policy debates stabilization,
1, should policy be active or passive? to many economists the case for active government policy is clear and simple.
: it is at a time of recessions.
: the model of AD and AS shows that:
a, how shocks to the economy can cause recession (periods of high employment, low incomes)
b, it also shows how monetary and fiscalpolicy can avoid recession by responding to these shock,what mean all ideas by amharic?
Macro economics policy debates stabilization,
1, should policy be active or passive? to many economists the case for active government policy is clear and simple.
: it is at a time of recessions.
: the model of AD and AS shows that:
a, how shocks to the economy can cause recession (periods of high employment, low incomes)
b, it also shows how monetary and fiscalpolicy can avoid recession by responding to these shock,what mean all ideas by amharic?
1. In Amharic, the phrase "active government policy" can be translated as "እንደ መንግሥት ፖሊስ ልማት" (endegna mengist plis limat).
2. "Recession" can be translated as "ገባብ ውስጥ ያሉ ግብጽ ክፍል" (gebabu wisht yalugibtu gefetse li).
3a. "Shocks to the economy" can be translated as "የኢንተርፕራይዝ ማስተላለፍ" (ye-entereprayz masitalalef).
3b. "Monetary policy" can be translated as "ግንባታ ፖሊስ" (ginibat plis), while "fiscal policy" can be translated as "የክፍያ ፖሊስ" (ye-kifya plis). The phrase "responding to these shock" can be translated as "ከዚህ ግብጽ ጋር ይደሰታል" (kezih gebabu gar yidesetalal).
2. "Recession" can be translated as "ገባብ ውስጥ ያሉ ግብጽ ክፍል" (gebabu wisht yalugibtu gefetse li).
3a. "Shocks to the economy" can be translated as "የኢንተርፕራይዝ ማስተላለፍ" (ye-entereprayz masitalalef).
3b. "Monetary policy" can be translated as "ግንባታ ፖሊስ" (ginibat plis), while "fiscal policy" can be translated as "የክፍያ ፖሊስ" (ye-kifya plis). The phrase "responding to these shock" can be translated as "ከዚህ ግብጽ ጋር ይደሰታል" (kezih gebabu gar yidesetalal).