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19 October 2021, by Hooaos

IMF: Ethiopia Real GDP to grow to 531 billion dollars by 2027.

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The International Monetary Fund (IMF) has said Ethiopia’s GDP (Purchasing Power Party) will reach over 500 billion USD by 2027. Ethiopia by then is set to finish the Grand Renaissance Dam on the Nile banks: this project alone will increase Ethiopia’s agricultural security, energy security by more than doubling the country’s electricity consumption, and fish/food security. The dam will also give political leverage over the whole continent, and also even the middle east/central Asia. Many other projects will contribute and be completed before 2027 which will contribute to the IMF’s report on the country’s overall 531 expected GDP growth.

But nonetheless the data might be terribly wrong, this is because a report published by the U.S government expected Ethiopia’s Nominal GDP to reach 122 billion dollars in 2030 but reached already 111 billion dollars in just 2021 according to World Bank data. So, the IMF might also be extremely underestimating Ethiopia’s GDP growth rate.

The expected 2027 nominal GDP for Ethiopia by the IMF is 175 billion dollars or 54 billion dollars over a years ago report. The country is growing immensely in infrastructure. Muti billion dollar deals of skyscraper constructions are booming in the country. And companies are pouring in. Ethiopia is also set to open an airport which is set to accommodate 100 million passengers a year, outside of Addis Ababa. Meaning jobs, stores, a more city revenue outside the big city (Addis). Many projects are going on also in the country.

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