Jeffrey Sachs Predicts Rapid Economic Growth for Ethiopia

Addis Ababa – Renowned American economist Professor Jeffrey Sachs has forecasted a bright economic future for Ethiopia, envisioning it as a rapidly growing economy for the upcoming decades. In an interview with ENA, Sachs praised Ethiopia’s ambitious regional integration efforts in trade, commerce, and infrastructure across the Horn of Africa and beyond.

According to Ethiopian News Agency,Sachs observed significant developmental changes within the country, particularly in Addis Ababa, where modernization efforts are evident. He lauded the construction of new industrial parks, railways, and infrastructure projects, as well as advancements in agricultural productivity in regions like Oromia.

Highlighting Ethiopia’s strategic investment strategy and its recent membership in the BRICS group, Sachs pointed out the potential for increased investment and financial support from Gulf countries. He stressed the importance of Ethiopia leveraging its BRICS membership to access financing and investment opportunities, particularly from the New Development Bank based in Shanghai, China.

Regarding regional integration, Sachs emphasized the essential need for peace, economic cooperation, and investment in the Horn of Africa, encouraging neighboring countries to build connectivity and cooperate for mutual benefits.