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World Bank cuts Ethiopia growth forecast to 6.3%

The World Bank cuts its forecast of Ethiopia’s GDP growth to 6.3% in 2020, in a report released last week.

In its Global Economic Prospects report, the Bank stated that “growth is expected to slow due to tighter fiscal and monetary policy stances aimed at containing inflation.”

The report states that current account deficit in Ethiopia narrowed amid improved services exports – largely transport services with Addis Ababa increasingly becoming a key regional hub.

The National Bank of Ethiopia has forecast that GDP would accelerate to 10.8% for the fiscal year ending in July.

Source: Nazret

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