WB Former Economist Lauds Ethiopia's Socio-Economic Performance

WB Former Economist Lauds Ethiopia's Socio-Economic Performance


Addis Ababa, April 30 (ENA)-- The World Bank (WB) former chief economist has applauded Ethiopia's social-economic performance over the past few years.


Prof. Joseph Stiglitz said the country's transition from the command to free market economic system was quite commendable.


Stiglitz made the remark here on Saturday at the just concluded four-day symposium gathered to review Ethiopia's socio-economic performance from 991-1999.


He said Ethiopia has managed to register a six percent annual GDP growth following the implementation of its economic reform programs.


The country has also succeeded in reducing poverty and child mortality rate, according to the chief economist.


Ethiopia's budget allocation for the education sector was equivalent with that of other developing countries, Stiglitz said.


He said the nation's budget allotment for the health sector was very sound when compared with other African countries.


Stiglitz attributed the success of Ethiopia's economic reform programs to the efforts deployed to bring about equitable growth of all national states.