European study finds Eritreans are gaining more wealth
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| Modern houses in Asmara, Eritrea |
Eritrea's wealth per capita has increased by 18.5% from the period of 2000 to mid-2012, according to The Credit Suisse Global Wealth Databook, a Switzerland-based multinational financial service.
In the same period, the study finds Eritrea's wealth per adult and financial wealth averages improved from US$386 to $1859 and $180 to $751, an increase of 20.76% and 23.9%, respectively.
Regionally, Ethiopia's heavy dependence on foreign aid, coupled with its unchecked population growth; now numbering 2.5 million newborns per year, have made growth levels underwhelming.
Since the financial crises of 2007-8, the study finds global household wealth declined by 5.2% in current dollar terms to $223 trillion, equivalent to $49,000 per adult worldwide.
European study finds Eritreans are gaining more wealth
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Reviewed by Admin
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This is a promising news but lets not get distorted by statistics. We have a long way to improving the standard of living of our people and hopefully using our HR and NR efficiently will be imperative in that economic endeavor. I believe some minor reforms by the GOE will alleviate suffering and encourage economic participation. PFDJ needs to be a bit more open and liberalize its economic paradigm; china is a great example of the political-economical model separation.
ReplyDeleteI agree. I believe the Eritrean government is heading towards a more liberal and open economy. In just the last few months alone, It has privatized around 250 state-own companies and passed Proclamation No. 173/2013 into law, which is aimed for the full liberalization of foreign currency in the country. I think the Eritrean government is following a customized version of Singapore's economic model.
ReplyDelete250 state-own companies? does they own so much companies?
ReplyDeleteYes they do bro :)
ReplyDelete