Ethiopia`s broad-based economic - National Bank

Ethiopia`s broad-based economic

Ethiopia broad-based economic growth continued for the sixth time in a row in 2008/09 putting the country in a higher growth trajectory. The economy grew at 9.9 percent in 2008/09 making Ethiopia area of the fastest growing economies in the world despite world economic melt down and global finical crisis. With a 42.6 percent share in GDP, agriculture and allied activities rose 6.4 percent contributing 27.2 percent to the overall economic growth recorded in the fisicalyear.

The National Bank of Ethiopia was established in 1963 by proclamation 206 of 1963 and began operation in January 1964. Prior to this proclamation, the Bank used to carry out dual activities, i.e. commercial banking and central banking.

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