Eritrea and Ethiopia leave Somalis behind

[Oxidant]

Ethiopia and Eritrea rank 3rd fastest growing economies for 2011 - Economist

Ethiopia along with Eritrea are predicted to be the third fastest growing economies in 2011, according to the Economist's "The World in 2011" Publication. The paper said, both Ethiopia and Eritrea are expected to grow by 10% for the coming year and rank third behind Qatar and Ghana.

Qatar with its burgeoning gas sector economy is the fastest growing economy in the world for the second year in a row. Eritrea is a new comer with most of the growth coming from the mining sector and the magazine said, a Chinese-funded cement plant will open in 2011.

"The ruling Ethiopian People's Revolutionary Democratic Front tightened its grip in 2010 elections, knocking a fragmented opposition out of the game until 2015. A New five-year economic plan will emphasize infrastructure development, industrialization, large scale commercial farming, and small private enterprise. Donor support and worker remittances will keep the national accounts in shape and the economy will grow by 10%", said the report.

On its "To watch" prediction, the magazine said, "Ethiopia's support for the beleaguered government of Somalia will continue, cementing its strategic importance in the Horn of Africa and tightening its alliance with the United States".

[Monk-of-Mogadishu]

No problem. They both have severe limitations. Eritrea has no mineral resources and limited water resources, in other words their economic potential has a ceiling. Ethiopia on the other hand is hard to sustain; inequity and ethnic division will halt any progress soon enough.

But, today is their day.

[Oxidant]

No problem. They both have severe limitations. Eritrea has no mineral resources and limited water resources, in other words their economic potential has a ceiling. Ethiopia on the other hand is hard to sustain; inequity and ethnic division will halt any progress soon enough.

But, today is their day.

Eritrea is a new comer with most of the growth coming from the mining sector

I don’t know about the Eritrea part, it seems that mining is rejuvenating the whole country. American Oil companies have already jumped on board and signed agreements with the Eritrean government. There has always been a report that Eritrea had Oil.

With the high inflation, Ethiopian growth means nothing. Let's see the long term result of the devaluation of the currency

[gurey25]

Monk.

http://minerals.usgs.gov/minerals/pubs/ ... 006-er.pdf

this is a conservative estimate, it is likely that the resources are greater..

they seem to be sitting on oil reserves as big as sudans as well and greater gas reserves.

Afeworki is not someone you fuk with..

He will be getting 5% royalties on precious metals 3 % on base metals plus a 35% corporate tax rate...

This is a great deal when every other miskeen african country is happy with 10%.....

Only the serious investors are going to eritrea this is why the going is slow but it is already moving along.

[Monk-of-Mogadishu]

Eritrea has minerals now, oil too? ---This is news to me.

Well then, I guess Somalia will have to be content with permanent 4th place in the horn.

[waryaa]

this is a good news. The more countries grow and modernize, the less likely they will engage unnecessary wars. Finally, the horn is going forward!

[Oxidant]

US' Centric Gas and Oil company announced that it had signed an oil and gas exploration agreement with the Eritrean government. On the 4th of May, the deputy president of CMS Oil and Gas, Robert C. Olsen, and the Eritrean Energy Minister, Tesfay Gebreselassie, signed the agreement in Asmara, with various PFDJ officials, and US ambassador to Eritrea, William Clarke being present

The photo below is of Petroleum Exploration Blocks and wells within Eritrean territory as provided by the the Eritrean Minsitry of Energy and Mines

[LiquidHYDROGEN]

The world




Somalia

[EEGA9]

Its been established that Ethiopian is lying about its economic figures, there growth is much smaller and the distribution of wealth over-all is narrow.The economy has mostly been pushed by foriegn direct investment where the Goverment is displacing peasants and auctioning land to foriegn entities to exploit.The population is seeing very little of this growth and infact experiencing rising inflation and cost of living pressures as a result of Goverment elitist policies, there for the most part manipulating GDP to keep there moronic regime going.

Eritrea is seeing some growth, but there only starting to exploit and look into there resources the regime has been very skeptical of foriegn aid and investment.Eritrea is still very poor with military expenses taking up most of the budget.However there begining to show some Economic potential.

[Oxidant]

Its been established that Ethiopian is lying about its economic figures, there growth is much smaller and the distribution of wealth over-all is narrow.The economy has mostly been pushed by foriegn direct investment where the Goverment is displacing peasants and auctioning land to foriegn entities to exploit.The population is seeing very little of this growth and infact experiencing rising inflation and cost of living pressures as a result of Goverment elitist policies, there for the most part manipulating GDP to keep there moronic regime going.

Eritrea is seeing some growth, but there only starting to exploit and look into there resources the regime has been very skeptical of foriegn aid and investment.Eritrea is still very poor with military expenses taking up most of the budget.However there begining to show some Economic potential.

Good points, also let’s not forget these countries are starting off at an extremely low point GDP wise, hence the high percentage growth. It would take at least, 10 years of this growth for the people to see real benefits,

Also the inflation is also caused by the currency devaluation and a rapid injection of money into the economy by the central bank.

[EEGA9]

Exactly catch-up effect but Ethiopia is only growing at the average rate which all sub-saharan African countries are growing at 5% or 6%, this massive growth reported has not been collected by Independent bodies or authorities but by the Ethiopian Goverment itself.Institutions like the IMF and World Bank are re-stating these numbers in there reports which they admit to.With the Economic slow down and Ethiopia's reliance on foriegn consumption of many of its major export products like Coffee, the economic figures(11% growth !!!) were even shot down by the IMF and other bodies.Its clear manipulation of Economic data to achieve political gain.

[union]

There isn't a country in the world that hasn't overtaken Somalia. Somalia isn't even a united country but rather a loose confederation of clan states. It must take a tremendous amount of arrogance and naivety for some on here to proclaim Somali superiority to other nations while working to undermine their progress, while it's clear to everyone that Somalia shows no hope of rising any time soon.