Ethiopia’s budget deficit is projected to widen to 1.4% of gross domestic product in the coming fiscal year.
Drivers refuel their vehicles at a petrol station during a fuel shortage in Addis Ababa on March 27, 2026. Ethiopians said on March 27, 2026 they slept in their cars in hours-long queues for petrol as shortages caused by the Middle East war began to take their toll. The effective blockade of the Strait of Hormuz by Iran, through which a fifth of the world's oil and gas normally passes, has caused shortages in many countries. Ethiopia, a nation in the Horn of Africa with around 130 million people, is particularly vulnerable as it imports all its petrol, primarily from the Gulf. (Photo by Marco Simoncelli / AFP via Getty Images)
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