Impact of COVID-19 on projected current account balance in Ethiopia 2020-2021
As of June 2020, the COVID-19 pandemic was anticipated to have a negative effect on the current account of Ethiopia. Considering the coronavirus outbreak persists until the end of 2020, a deficit of 6.3 percent of the GDP was projected for the same year. In comparison, before the pandemic, the outlook was a deficit of 5.3 percent of the GDP. Moreover, the deficit on the budget balance in 2021 was revised to 5.9 percent of the GDP (in the worst-case scenario), up to 5 percent of the GDP, under the baseline assumption that coronavirus did not occur.
