Eritrea to have the third fastest growing economy in Africa: EIU
|Economist Intelligence Unit forecasts Eritrea's economy to grow by 8.0% in 2014|
November 1, 2013 — Eritrea’s economy is expected to maintain a growth rate of 8.0% in 2014, according to the Economist Intelligence Unit (EIU), a research arm of The Economist Group.
According to the group's figures, Eritrea will have the third fastest-growing economy in Africa, trailing only behind Zambia and Rwanda.
The data was revealed by Robert Ward, the Country Director of the EIU, at the start of a two-day conference organised by the The Economist magazine in Ghana last Tuesday.
With nearly 20 foreign mining companies operating in Eritrea, analysts predict a mining boom that will accelerate the country's GDP growth for decades to come.
Conservative estimates indicate around a quarter of a trillion dollars worth of minerals and potash are to be found in Eritrea, making the Red Sea State's economic future among the brightest in the continent.
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|Screenshot taken from the Econonomic Intelligence Unit Country by Country Report|
|Screenshot taken from the Economic Intelligence Unit Country Report|
Eritrea to have the third fastest growing economy in Africa: EIU Reviewed by Admin on 11:37 AM Rating: