Ethiopia Basic Information

Ethiopia Basic Information
Basic data
Capital Addis Ababa
Population 120.8 million
Language Amharic, English
Religion Christianity, Islam
State system federal democratic republic
Head of State Sahle-Work Zewde
Head of government Abiy Ahmed
Currency name Ethiopian Birr (ETB)
Time shift +2 hours (in summer +1 hour)
Economy 2021
Nominal GDP (billion USD) 293.1
Economic growth (%) 2
Inflation (%) 26.7
Unemployment (%) ON

As one of countries that start with letter E according to Countryaah, Ethiopia is a federative republic that is made up of 11 ethnically based states and 2 self-governing urban areas. The role of the President, who is elected by both Houses of Parliament for a six-year term, is ceremonial. The legislative power is represented by a bicameral parliament, consisting of an upper Chamber of the Federation with 108 seats and a lower Chamber of People’s Representatives consisting of 548 seats. While the members of the upper house are elected by the parliamentary assemblies of the individual states of the federation, the lower house is elected by universal suffrage. The Prime Minister, who is the representative of the executive power, is elected from among the members of the Chamber of People’s Representatives.

Ethiopia’s economy has begun a gradual transformation from a socialist system dominated by state-owned enterprises to a market economy since the new Prime Minister Abiya Ahmed took office in April 2018. The government has set support for the private sector as one of its priorities, but its development is still only gradual. After economic growth that averaged around 10% of GDP per year in previous years, Ethiopia was also hit by a global pandemic, as a result of which economic growth slowed down to 2% of GDP in 2021. However, Covid-19 was not the main thing for the Ethiopian economy in 2021 the challenge was rather the gradual erosion of the political system, the decline of the rule of law, disputes with neighbors, the armed conflict in the north of the country, and the concerns of foreign investors about developments in the country. In October 2021, a new Ethiopian government was approved,

For strong Czech companies, Ethiopia represents a promising business partner. Czech companies are already establishing themselves very well in the defense sector and in the healthcare sector, where they have been selected as implementers of several state tenders. Given the gradual modernization of the armed forces and the healthcare system, it is possible to expect the active involvement of Czech entities in the future as well. Prospects exist in the mining and quarrying sector, which is the government’s priority for the next decade. Export opportunities also exist in the food and processing industry, as well as in agriculture, the modernization of which is high among the state’s priorities. Czech entities will also be able to benefit from infrastructure development, which the government also wants to focus on. The development of the energy industry also represents an opportunity for Czech companies, specifically the strengthening of the transmission network,

In the following years, there should be a gradual recovery of growth, even if Ethiopia will no longer reach the double-digit figures of the previous decade. Inflation will continue to be a problem, although the situation is not expected to be as severe as in 2021. Ethiopia is also expected to gradually reduce its foreign trade balance in the coming years, which could help reduce hard currency problems. According to government plans, the country should reach a GDP per capita of USD 2,500 in 2025, thereby leaving the category of low-income countries and joining the ranks of middle-income countries.

Ethiopia is very specific due to its history, culture and long isolation among other African countries, which Czech businessmen must take into account when negotiating with Ethiopian partners. Ethiopians are a very proud people who must save face at all costs, but they will surprise their partner with their friendliness. Today, the socialist legacy manifests itself in excessive bureaucratization and fear of decision-making, so quick results cannot be expected.

Practical telephone numbers (emergency services, police, firemen, information lines, etc.)

Police: 991, 011 1572121

Selected hospitals: Red Cross, emergency: 907, 011 1111882

Myungsung (Korean): 011 6292963, 011 6294602 (Emergency)

Dejazmach Balcha Hospital (Russian Red Cross Hospital): 00251-11 551 32 05; [email protected]

St. Gabriel: 011 6613622

Nordic Medical Center (foreign): 24-hour mobile service: 00251-929 105 653

Firefighters: 912

Important web links and contacts Ministry of Foreign Affairs National Bank of Ethiopia Ethiopian Investment Commission EU Delegation to Ethiopia Ethiopian Telecom Addis Ababa Chamber of Commerce Ethiopian Chamber of Commerce and Sector Associations Ministry of Industry Ministry of Commerce Ethiopian Agricultural Transformation Agency Ethiopian Tourism Organization Ethiomarket business portal (trade, contacts, tenders) 2mercato business portal (trade, contacts, tenders) business directory Bank of Abyssinia Commercial Bank of Ethiopia Ethiopian Airlines Central Statistical Agency Addis Fortune (weekly) Capital (weekly) The Reporter Ethiopia portal about Addis Ababa

Ethiopia Basic Information