Ethiopia Premier Sees State-Asset Sales Boosting Economic Growth

(Bloomberg) -- Ethiopia’s planned sale of state-owned assets will help expand an economy that’s expected to be among the world’s fastest-growing over the next three years, Prime Minister Abiy Ahmed said.

The government has outlined proposals to sell stakes in companies including Ethiopian Airlines Enterprise and Ethio Telecom. The planned disposals are part of a strategy to attract investment to an economy that credit-ratings companies forecast will grow an annual average of more than 8 percent through 2021, Abiy said at the World Economic Forum in Davos on Wednesday.

Ethiopia is undergoing “significant institutional reforms” to make it easier to do business, and increase private-sector investment to boost growth, Abiy said. The government is seeking to achieve a “fast-paced, sustainable” expansion, he said.

The economy grew 10-fold in the past quarter century, he said.

--With assistance from Nizar Manek.

To contact the reporter on this story: David Malingha in Nairobi at dmalingha@bloomberg.net

To contact the editors responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net, Paul Richardson, Rene Vollgraaff

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