Ethiopia's economy grows, more expected

Ethiopia's Growth and Transformation Plan, a strategic framework for the 2010/11-2014/15 period, helped the country's last year 8.5% growth rate, up to July 2012, the end of the country's fiscal year. The rate is down from 11.4% a year earlier, below the minimum 11% target set to achieve the aims of the plan and, for the first time in nine years, below double digits, according to the State Minister of Finance Abraham Tekeste. He also announced plans to attract more foreign investment, especially from Europe and the Middle East, and boost domestic savings.