Eritrea’s economy slowed more sharply than expected due to dwindling economic activities and poor weather conditions that adversely affected agricultural productivity. Real GDP growth declined to an estimated 3.4% in 2017, from 3.8% in 2016, and is projected to remain between 3.7% and 3.8% over the medium term. Continue reading Eritrea’s Economy to Grow by 3.7pc in 2018: AfDB
AfDB supports inclusive growth through agriculture and infrastructure development
The Board of Directors of the African Development Bank Group (AfDB) has approved the institution’s intervention strategy in Eritrea for 2017-2019.
The Interim Country Strategy Paper (I-CSP) supports the Government’s National Development Plan (2014-2018) for the country’s economic and social development through agricultural transformation. Continue reading Africa Development Bank Approves Eritrea’s Country Strategy Paper
In the 22 years since independence in 1993, the Government of the State of Eritrea (GoSE) has prioritized investments in infrastructure (communication networks, energy, and water facilities); agriculture (mainly for food security); marine resources; social and other services; and manufacturing.
In 2016, GoSE priorities are human-resource development; investment in machinery and equipment; transport and communication facilities; water supply; energy; and essential social services. The government is also creating an attractive environment for the active participation of local and foreign private investors. Continue reading Eritrea Economic Outlook 2016
By Nyende Magidu,
ERITREA is aiming at creating a modern, private sector-led economy (Macro Policy 1994; National Indicative Development Plan 2014-2018). Attaining this objective is, however, compromised by an inadequately enabling investment and business environment, United Nations sanctions, and overall weak macroeconomic conditions.
Real GDP growth is projected to increase from 2.0% in 2014 to 2.1% in 2015, double the rate recorded in 2013, because of increasing investments in the mining sector. Over the medium term, the government sees further prospects in improved trade with Middle-Eastern and Asian countries, additional mining activities, the growth of the food sector and the development of the tourist industry. Continue reading Eritrea’s 2015 Economic Outlook
THE African Development Bank (AfDB) and Eritrea today signed a US $41.5 million funding agreement to finance two major government projects on skill development, drought resilience and sustainable livelihood programs.
The Agreement was signed in Asmara by the Minister of Finance, Mr. Berhane Habtemariam, and AfDB Regional Director, Mr. Gabriel Negatu. Continue reading AfDB and Eritrea Sign US $41.5m Funding Agreement
THE East Africa Quarterly Bulletin, which monitors socio-economic developments across the continent, has been released by country economists and country program officers of the African Development Bank Group’s (AfDB) East Africa Regional Resource Center (EARC), Nairobi, Kenya.
According to the report, Economic growth in Eritrea improved during the third quarter (Q3) of 2014, supported by increased production in the mining sector and continued development of the Asmara mining project, which is expected to produce copper, zinc, gold and silver by mid-2015. Continue reading Eritrea’s Economic Growth Improved in Q3 2014
THE Board of Directors of the African Development Bank Group on Wednesday, October 15 approved the Interim Country Strategy Paper (I-CSP) for Eritrea.
The I-CSP covers the period 2014 – 2016 and aims to assist the Government of Eritrea in addressing its binding development challenges in a coordinated and consultative manner.
The strategy focuses on enhancing skills development and technology, in support of inclusiveness and transition to green growth. In addition, the Bank will support the government to build resilience and capacity to deal with, and adapt to a challenging environment to promote inclusive growth and poverty reduction. Continue reading AfDB Approves Eritrea Interim Country Strategy Paper 2014-2016
THE African Development Bank (AFDB) has released the second quarter 2014 socio-economic development Bulletin across the African continent providing a summary information on the previous quarter’s major developments across the sub-region for which data are available on a timely basis.
The quarterly Bulletin focusing on East Africa is produced by country economists and country program officers of the African Development Bank Group’s (AfDB) East Africa Regional Resource Center (EARC), Nairobi, Kenya. The publication covers thirteen countries including Burundi, Comoros, Djibouti, Eritrea, Ethiopia, Kenya, Rwanda, Seychelles, Somalia, South Sudan1, Sudan, Tanzania, and Uganda. Continue reading AFDB Second Quarter Socioeconomic Report on Eritrea