Ethiopia Approves U.S.$86 Million to Create 161,000 Jobs

17 September 2018

Ethiopia, one of the fastest growing non-oil producing economies in Africa is planning to create employment opportunities to cut the high rate of unemployment. Addis Ababa City Administration plans to create 161,000 jobs for its citizens. Their vision is in line with the 2017/18 financial year plan. The country's economy is rapidly growing and should be able to execute its goal soon.

Addis Saving and Credit Institution and Youth Revolving allocated $86 million in financial aid for the success of the program. Youth unemployment rate was at the peak in 1999 where 12.4 per cent were unemployed in Ethiopia. There was a great recession between then and 2005 as the Government addressed the challenge and its socio-economic impact.

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