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Ethiopia to Miss 11% Growth Target as Drought Hurts Agriculture

  • Economy still to rise by more than 7% despite severe drought
  • Government says growth rate has been over 10% for a decade

Ethiopia’s economy will expand by between 7 percent and 10 percent this fiscal year, missing the government’s target, as a severe drought hurts agriculture.

“The economy will continue to register growth, if not a double-digit fast economic growth,” Prime Minister Hailemariam Desalegn said in a newsletter e-mailed by the Foreign Ministry. The government had a target of 11 percent growth for the fiscal year ending on July 7.