[ad_1]
(Adds details, background)
ADDIS ABABA, July 6 (Reuters) – Ethiopia's economy grew more slowly than expected in the 2017/18 year and the government must do more on Friday.
"We need to work (so that) investors have full confidence in the country," Abiy Ahmed said in a speech to parliament, adding that growth was "below 10 percent but over 9 percent" in the fiscal year ending this month .
The 41-year-old took office in the country of 100 million is run. He has introduced economic reforms to several capital-state badets.
The country has been grappling with an acute foreign exchange.
"We are earning the lowest in the region," he said of revenues from manufacturing.
Analysts say the shortages are caused by the central bank maintaining an overvalued currency amid very high public investment in mega-projects. (Writing by Maggie Fick Editing by Duncan Miriri and Raissa Kasolowsky)
Source link
