Economy

IMF Projects South Sudan to Outpace Ethiopia in Economic Growth

AI SUMMARY

The IMF projects South Sudan to achieve a 10.5 percent economic growth rate this year, surpassing Ethiopia's 9.2 percent growth.

South Sudan is projected to achieve a 10.5 percent economic growth rate this year, making it faster than Ethiopia.
South Sudan's rapid growth is driven by the recovery of its oil production.
Ethiopia is projected to record a 9.2 percent economic growth rate, the second-fastest in Africa.
Ethiopia's economic expansion is attributed to macroeconomic reforms, growing exports, infrastructure expansion, and a larger role for the private sector.
Inflation, external debt, and high import costs will continue to challenge citizens' purchasing power in Ethiopia.