Ethiopian Business Review

Africa’s economy remained strong to register a 5.0 pct growth in 2012. The region’s economic growth was reported to be promising as it came amidst slowing world economy. Africa’s economic growth has benefited from the improving political unrest in the northern region of the continent, elections were hold and normal business activities have begun to return in Egypt and Libya.

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Number of people who will be living in extreme poverty in Sub Saharan Africa by 2015, which will be 42.3 percent of the region’s total population. The number was 289.7 million in 1990, 56.5 pct of the population of the time, according to a Global Monitoring Report 2013, jointly produced by the World Bank and the International Monitory Fund. The East Asia and Pacific region has seen significant change in the last quarter of a century. More than 926.4 million of people lived in extreme poverty in 1990, 56.2 pct of the population of the region, where as there will only be 114.5 million people living in extreme poverty in 2015, 5.5% of the population, according to the report. This report, which is an annual report card on the world’s progress toward the Millennium Development Goals (MDGs), is the 10th edition and was presented at AAU on May 7, 2013.

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According to the 10 indicators that constitute the overall ranking, Ethiopia has shown mixed results with huge differences among the indicators. The country relatively performs better when it comes to indicators like construction permits, access to electricity and legal issues. It has also shown better performance in availing finance for businesses in the last year. But the nation continues to be a hard place to get business license and establish a company, and trade across borders. This difficulty of conducting international trade can be explained by the dismal logistical facility in the country in addition to its lack of its own port.

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