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Fourth Ethiopia Economic Update: Overcoming Constraints in the Manufacturing Sector

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dc.contributor.authorWorld Bank Group
dc.date.accessioned2015-07-28T20:57:09Z
dc.date.available2015-07-28T20:57:09Z
dc.date.issued2015-07-08
dc.description.abstractThe Ethiopian economy continued its strong expansion in FY14 with real GDP growing by 10.3 percent. Growth was driven mainly by the services sector from the supply side and public investment from the demand side. At the same time, inflation has remained in single digits for the last two years on account of tighter monetary policy and lower international commodity prices. However, in recent months in 2015, domestic food prices are increasing partially as a result of shortage rainfall during the short rainy season. On the fiscal side, the budgetary stance at the general government level has been cautious. In an effort to adjust for the rising cost living, the FY15 budget incorporates an increase in public sector salaries after years of no increases which could also be the first step to adjust the balance between capital and recurrent expenditure. The salary increase accompanied by a supplementary budget in the middle of the fiscal year could potentially increase the budget deficit. The current account balance weakened. The deterioration is on account of a worsening trade deficit which was driven by weak export performance and large imports of capital goods for public investment programs. Goods exports showed positive growth in 2013-14 but rates remained far below their historical growth; furthermore, export growth fell into negative territory again in the last quarter of 2014 and first quarter of 2015. The strong economic growth in the past decade helped to reduce poverty significantly. The poverty headcount, measured by the national poverty line, fell from 38.7 percent in 2005 to 29.67 percent in 2011. Measured with the international poverty line (US$1.25 per day) Ethiopia saw the second fastest rate of reduction in Africa. Economic growth, particularly in agriculture, has been an important driver of poverty reduction in the last decade. Favorable weather conditions and improving terms of trade for rural producers have been reasons of this past trend supported by strong improvements in access to basic services and rural safety nets. Low levels of inequality have been maintained with the Gini coefficient remaining stable at 0.30.en
dc.identifierhttp://documents.worldbank.org/curated/en/2015/07/24756616/fourth-ethiopia-economic-update-overcoming-constraints-manufacturing-sector
dc.identifier.doi10.1596/22317
dc.identifier.urihttps://hdl.handle.net/10986/22317
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectLIVING STANDARDS
dc.subjectTOTAL REVENUE
dc.subjectMONETARY POLICY
dc.subjectCAPITAL MARKETS
dc.subjectREGULATORY FRAMEWORK
dc.subjectUNEMPLOYMENT RATES
dc.subjectECONOMIC GROWTH
dc.subjectOIL PRICE
dc.subjectPRODUCTION
dc.subjectLAGS
dc.subjectNATIONAL ECONOMY
dc.subjectSTRUCTURAL CHANGE
dc.subjectDISPOSABLE INCOME
dc.subjectINCOME
dc.subjectEXPECTATIONS
dc.subjectREAL GDP
dc.subjectEXCHANGE
dc.subjectGOVERNMENT REGULATION
dc.subjectECONOMIC DEVELOPMENTS
dc.subjectGDP PER CAPITA
dc.subjectLIQUIDITY
dc.subjectEXPORTS
dc.subjectDOMESTIC MARKET
dc.subjectPOLITICAL ECONOMY
dc.subjectFISCAL POLICY
dc.subjectWELFARE
dc.subjectBONDS
dc.subjectINCENTIVES
dc.subjectDEVALUATION
dc.subjectCAPACITY BUILDING
dc.subjectMOV
dc.subjectREAL INCOME
dc.subjectINPUTS
dc.subjectPAYMENTS
dc.subjectFREE TRADE
dc.subjectINFLATION
dc.subjectREGIONAL PRODUCTIVITY
dc.subjectTRENDS
dc.subjectSAFETY NETS
dc.subjectECONOMIC OUTLOOK
dc.subjectDEVELOPMENT
dc.subjectSMALL BUSINESS
dc.subjectINFLUENCE
dc.subjectOIL PRICES
dc.subjectTOTAL FACTOR PRODUCTIVITY
dc.subjectTECHNICAL ASSISTANCE
dc.subjectCOSTS
dc.subjectPER CAPITA INCOME
dc.subjectGOVERNMENT REGULATIONS
dc.subjectEXPORT GROWTH
dc.subjectCOMMERCIAL BANK
dc.subjectMONEY
dc.subjectRENT
dc.subjectDEVELOPMENT STRATEGIES
dc.subjectFIXED COSTS
dc.subjectPRODUCTIVITY
dc.subjectINDUSTRIALIZATION
dc.subjectFAILURES
dc.subjectMONOPOLY
dc.subjectCRITERIA
dc.subjectPRICE DECLINES
dc.subjectDEBT
dc.subjectMARKETS
dc.subjectNET EXPORTS
dc.subjectINCOME LEVELS
dc.subjectPOTENTIAL OUTPUT
dc.subjectENTRY BARRIERS
dc.subjectTAX REVENUES
dc.subjectUTILITY
dc.subjectNATURAL RESOURCES
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectINVENTORY
dc.subjectFINANCE
dc.subjectTAXES
dc.subjectUNEMPLOYMENT
dc.subjectPRODUCTIVITY GROWTH
dc.subjectCONSUMPTION
dc.subjectHUMAN CAPITAL
dc.subjectVALUE ADDED
dc.subjectCAPITAL
dc.subjectWAGES
dc.subjectUNEMPLOYMENT RATE
dc.subjectFUTURE
dc.subjectVALUE
dc.subjectBENCHMARKING
dc.subjectCOMPETITIVENESS
dc.subjectCREDIT
dc.subjectTREASURY BILLS
dc.subjectTRADE DEFICIT
dc.subjectDEVELOPMENT STRATEGY
dc.subjectCOMPARATIVE ADVANTAGES
dc.subjectDEMAND
dc.subjectECONOMY
dc.subjectAGRICULTURE
dc.subjectCONSUMERS
dc.titleFourth Ethiopia Economic Updateen
dc.title.subtitleOvercoming Constraints in the Manufacturing Sectoren
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.date.disclosure2015-07-08
okr.date.doiregistration2025-05-07T11:26:41.774145Z
okr.doctypeEconomic & Sector Work
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.docurlhttp://documents.worldbank.org/curated/en/2015/07/24756616/fourth-ethiopia-economic-update-overcoming-constraints-manufacturing-sector
okr.globalpracticeMacroeconomics and Fiscal Management
okr.guid827261468190142554
okr.identifier.externaldocumentum090224b0830cfd0f_2_0
okr.identifier.internaldocumentum24756616
okr.identifier.report97916
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2015/07/08/090224b082fdaa45/1_0/Rendered/PDF/Fourth0Ethiopi0manufacturing0sector.pdfen
okr.region.administrativeAfrica
okr.region.countryEthiopia
okr.topicEnvironment::Environmental Economics & Policies
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicFinance and Financial Sector Development::Banks & Banking Reform
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicMacroeconomics and Economic Growth::Economic Modeling and Statistics
okr.topicMacroeconomics and Economic Growth::Economic Theory & Research
okr.unitMacro Fiscal Mgmt - GP (GMFDR)
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