Ato Dereje Degene, director of economic growth and investment, warned that Ethiopia will lose an average of 50 billion dollars per year if it fails to gain sea access in the next 10 years. He noted the country's economy is experiencing high growth.
In Addis Ababa on Hidar 3, 2018 EC (Fana Media), Ato Dereje Degene, director of economic growth and investment, told Fana Podcast that Ethiopia will lose an average of 50 billion dollars per year if it does not gain sea access in the next 10 years.
Ato Dereje projected that Ethiopia's annual export volume will reach one trillion dollars in the next decade. He indicated that the trade deficit will cover 50% of this amount. Currently, due to debt and related expenses, the import-export trade stands at 10%.
"Even if this debt payment amount does not increase in the next 10 years, Ethiopia will lose 50 billion dollars per year," Ato Dereje stated. This wealth could finance 10 major projects like the Grand Ethiopian Renaissance Dam annually.
He added that gaining sea access in the coming years would prevent national wealth from flowing to the sea, providing significant benefits. Ethiopia's economy is showing high growth.