(January 20, 2015, (ADDIS ABABA))--Agricultural growth was the main driver of poverty reduction in Ethiopia since 2000, according to the World Bank Group’s latest Poverty Assessment. Poverty in Ethiopia fell from 44 percent in 2000 to 30 percent in 2011, which translated to a 33 percent reduction in the share of people living in poverty. This decline was underpinned by high and consistent economic growth.
Since 2005, agricultural growth has been responsible for a reduction in poverty of 4 percent a year, suggesting that the agricultural growth strategy pursued by the Government of Ethiopia has paid off. High food prices and good weather ensured that increased use of fertilizer was translated into higher incomes for poor farmers with access to markets.
Government spending on basic services and effective rural safety nets has also helped the least well-off in Ethiopia. The Productive Safety Net Program alone has pushed 1.5 million people out of poverty.
“Although Ethiopia started from a low base, its investment in pro-poor sectors and agriculture has paid-off and led to tremendous achievements in economic growth and poverty reduction, which in turn have helped improve the economic prospects of its citizens,” says Guang Zhe Chen, World Bank Group Country Director for Ethiopia. Read more from The World Bank »
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Since 2005, agricultural growth has been responsible for a reduction in poverty of 4 percent a year, suggesting that the agricultural growth strategy pursued by the Government of Ethiopia has paid off. High food prices and good weather ensured that increased use of fertilizer was translated into higher incomes for poor farmers with access to markets.
Government spending on basic services and effective rural safety nets has also helped the least well-off in Ethiopia. The Productive Safety Net Program alone has pushed 1.5 million people out of poverty.
“Although Ethiopia started from a low base, its investment in pro-poor sectors and agriculture has paid-off and led to tremendous achievements in economic growth and poverty reduction, which in turn have helped improve the economic prospects of its citizens,” says Guang Zhe Chen, World Bank Group Country Director for Ethiopia. Read more from The World Bank »
Related topics:
Ethiopia Has Fastest Growth Rate In Africa, Says UNECA
Economic devt in Ethiopia very impressive: UK Ambassador
Ethiopia’s impressive economic growth
Ethiopia’s ‘African tiger’ leaps towards middle income
Ethiopian development has been quicker than expected ..
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