Question

What is economic system of ethiopia

Answer 1

Ethiopia has a mixed economic system that combines elements of both socialism and capitalism. The government owns many of the major industries and companies, including banking, telecommunications, transportation, and utilities. However, there is also a growing private sector, particularly in industries such as agriculture, manufacturing, and construction. The government has implemented economic reforms in recent years to promote private sector growth and attract foreign investment. Despite these efforts, Ethiopia remains one of the poorest countries in the world, with a large informal economy and high levels of poverty and unemployment.