APA-Addis Ababa (Ethiopia) Around three million Ethiopians have been pushed into poverty due to conflict, the Ethiopian Ministry of Finance (MoF) has disclosed.
In a report issued on Saturday, the ministry said Growth Domestic Product (GDP) of the Horn African nation has decreased by 25.9 percent due to conflict which has been unfolding since November 2020.
Currently the federal government is fighting in the country’s Amhara region in its bid to disarm the Fano fighters who were armed themselves during the two- year conflict in northern Ethiopia.
The newspaper reported that war-related damages and economic losses amount to more than 20 percent and more than 5.5 percent of Ethiopia’s GDP.
The Ethiopian government is preparing to unveil a document titled “Ethiopia’s Resilient Recovery and Reconstruction Planning Framework”.
The framework, which will be implemented between 2023 and 2028, will require $20 billion to carry out the planned projects over the next five years, the report disclosed.
In addition to the direct impact of conflict, Ethiopians are suffering from the consequences of runaway cost of living, with official figures showing Ethiopia’s inflation rate reaching 33.5 percent in April.
MG/as/APA