Economy of Ethiopia

The economy of Ethiopia is largely based on agriculture, which accounts for 46.6% of the gross domestic product (GDP) and 85% of total employment.
Ethiopia is one of the fastest-growing economies in the world and is Africa’s second most populous country. Many properties owned by the government during the previous regime have now been privatized and are in the process of privatization. However, certain sectors namely Telecommunications, Financial and Insurance services, Air and Land Transportation services, and retail are considered as strategic sectors and would remain under state control for the foreseeable future. Almost 50% of Ethiopia's population is under the age of 18, and even though education enrollment at primary and tertiary level has increased significantly, job creation has not caught up with the increased output from educational institutes. The country must create hundreds of thousands of jobs every year just to keep up with population growth.
The Ethiopian constitution defines the right to own land as belonging only to "the state and the people", but citizens may only lease land (up to 99 years), and are unable to mortgage, sell, or own it.Various groups and political parties have sought for full privatization of land, while other opposition parties are against privatization and favor communal ownership.
The current government has embarked on a program of economic reform, including privatization of state enterprises and rationalization of government regulation. While the process is still ongoing, the reforms have begun to attract much-needed foreign investment. Despite recent improvements, with an exploding population Ethiopia remains one of the poorest nations in the world.