Eritrea: Recent Economic Developments

Author: International Monetary Fund

Volume/Issue: Volume 1995 Issue 004

Publication date: January 1995

ISBN: 9781451811919

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , ISCR , CR , government , rehabilitation effort , vault cash , government decision , fiscal policy stance , trading partner , Derg regime , government assistance , fledgling government , government operation , Ethiopian government , Eritrean government , government decentralization , Commercial banks , Public enterprises , Currencies , Imports , East Africa , Europe , Africa

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Summary

This paper describes economic developments in Eritrea during 1990–95. In 1993, despite strong growth in the industry and distribution sectors, real GDP growth was adversely affected by a substantial decline in agricultural output, owing to poor rain distribution, pest problems, and drought in some regions. The growth in industry reflected increased availability of raw materials and spare parts, and construction activity related to the rebuilding of war-damaged roads, buildings, and housing. The distribution sector benefited from the growth in the industrial sector as well as a substantial increase in imports.