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Ethiopia promising to be one middle-income country – UN report

By Tesfa-alem Tekle

July 17, 2008 (ADDIS ABABA) — A new UN report released on least developed countries (LDC) on Thursday said that with the continuing economic growth it is registering, Ethiopia in 25 years will be ranked among the middle income countries of the world.

The report said Ethiopia is among the few LCD countries achieving record rates of economic expansion and if recent development strategies are improved it will it self pull out of the poverty line in the next two decades and annual income of a citizen will reach above 1040 dollars a year.

Other African countries UN labelled them on a promising track include Sudan, Angola and Liberia.

The report has suggested LCD countries to highly depend on self-agricultural based economic development strategies than wait for aid which comes based on the policy and personal interest of wealthier nations.

The report has seen a 9% economic growth for Ethiopia this year.

In March Prime Minister Meles Zenawi told parliament that Ethiopia is set to register a 10.8 percent economic growth this year despite inflation reaching 20 percent and a drought that has afflicted millions.

Though Economic growth in the LDCs show further growth acceleration the number of people living below poverty line is increasing. The report indicate

In order to decisively embark an economic and social development, LDCs need to adopt new types of development strategies that are nationally formulated and owned. One of the elements of this change is to adopt management policies for the official development aid they receive. It said

These policies will allow aid to be more effective, providing a more powerful contribution to development.

(ST)

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