Ethiopia tops list of 10 fastest growing economies in the world
Tigrai Online, June 16, 2015
Ethiopia is projected to be the number one country in the top 10 fastest growing economies of the world
Ethiopia is projected to be the number one country in the top 10 fastest growing economies of the world. The Business Insider website, which is the largest business news site, has published an article on June 12, 2015. The article is a projection on which countries economy will grow fastest based on years of data, studies, and deep analysis of the current business atmosphere.
After sifting through thousands of data files mainly from the World Bank’s Global Economic Prospects, they compiled a list of thirteen countries that would see the speediest growth in their economies.
The list is for compounded annual growth rate or CAGR from the year 2014 to 2017. For many years countries in the Far East Asia like China, North Korea and Singapore were the fastest growing countries, but things are changing and the list of fastest growing economies is changing. Many of the countries with the fastest growing economies are in Africa. In fact according to the Business Insider list Ethiopia will have the fastest growing economy on Earth in the projected years of 2014 and 2017.
The top ten fastest growing economies in the world are as follows:
Ethiopia: 2015: +9.50% 2016: +10.50% 2017: +8.50%
- Turkmenistan: CAGR: +9.07%
- DRC Kongo: CAGR: +8.62%
- Myanmar / Burma: CAGR: +8.30%
- Uzbekistan: CAGR: +8.00%
- Cote D’Lvoire: CAGR: +7.80%
- Papua New Guinea: CAGR: +7.60%
- India: CAGR: +7.57%
- Bhutan: CAGR: +7.55%
- Mozambique: CAGR: +7.30%
Tanzania, Rwanda, and China are the three other countries that can see healthy growth of their economies in the next two years.
It is not a surprise for many people Ethiopia is the number one country with the fastest growing economy in the world. Time and again the world financial and business institutions have said their data shows Ethiopia is one of the fastest growing countries on earth.
It is a recent memory where Ethiopia was an example of hunger, famine, civil war and all human suffering. In 2015 Ethiopia is seen as an example of African hope, renaissance, revitalization, growth, great power and self assertion. The reason for the miraculous transformation of Ethiopia lies in the following changes: distribution of political power, democratization of wealth, superior management of government, and fair-balanced-governance of the country.
We know there are those who want to preach the doom and gloom of Ethiopia and wanted to portray our country one notch away from collapsing, but the reality on the ground speaks for itself. Year after year the Ethiopian enemies puppets increase their lies and the truth shines even brighter showing the success of the Ethiopian people.
Source for the data is Business Insider: http://www.businessinsider.com/world-bank-fast-growing-global-economies-2015-6?op=1