Ethiopia is the second most populous nation in Africa after Nigeria, and one of the fastest-growing economies in the region, with an estimated
7.2% growth in
FY2022/23 (World Bank Ethiopia Overview,2024).
According to the
IMF Ethiopia is expected to achieve a
6.1% real gross domestic product (GDP) growth rate by the end of 2023, with a
6.2% growth rate predicted for 2024 .
Ethiopia has set the goal to be one of the Lower-Middle-Income (LMI) economies in the world by 2025. With that the
target is to reach a GDP range of 147.5 to 578.4 bl. US$ and a GDP
per capita range of 1,137 to 4,458 US$ by 2025 (Feto & Jayamohan,2024).