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Edition: U.S. Article Comments (0) Save Email Print Reprints Most Popular Most Shared Scientists find new superbug spreading from India 10:07am EDT Democrats see good news in primary results 3:39pm EDT U.N. warns of second wave of Pakistani flood deaths | Video 1:34pm EDT Markets close lower for year in broad selloff | Video 4:38pm EDT Attractive women overlooked for certain jobs? 09 Aug 2010 Florida AG proposes tougher illegal immigrant curbs 2:38pm EDT UPDATE 1-Colorado Democrat escapes U.S. anti-incumbent mood 12:39am EDT Cancer cells slurp up fructose, US study finds 02 Aug 2010 Hollywood disdainful of Levi Johnston TV venture 4:07am EDT Analysis: Drought to crimp not cripple Russia recovery 10 Aug 2010 Scientists find new superbug spreading from India 10:07am EDT Florida AG proposes tougher illegal immigrant curbs 2:38pm EDT Cancer cells slurp up fructose, US study finds 02 Aug 2010 Quick brain scan could screen for autism 10 Aug 2010 Attractive women overlooked for certain jobs? 09 Aug 2010 Strange and unusual 29 Jul 2010 Advice to job seekers: drop the Merlot 10 Aug 2010 UPDATE 2-Florida AG proposes tougher illegal immigrant curbs 12:56pm EDT U.N. warns of second wave of Pakistani flood deaths | Video 1:34pm EDT Breath test may be able to detect common cancers 10 Aug 2010 Ethiopia eyes end of food aid within five years: PM Digg This Tweet This Share on LinkedIn Share on Facebook Related Topics World » By Barry Malone ADDIS ABABA | Wed Aug 11, 2010 3:31pm EDT ADDIS ABABA (Reuters) - Ethiopia may not need any food aid within five years thanks to an ambitious development plan that targets a heady average economic growth of 14.9 percent over the period, its prime minister said Wednesday. The Horn of Africa nation is still one of the world's poorest countries, with nearly 10 percent of the population relying on emergency food aid last year. But the government has posted high economic growth figures over the past five years, averaging about 11 percent, although the opposition says they are inflated to attract investment. "In the future, we will feed ourselves and we will be able to manage our own forms of social security," Prime Minister Meles Zenawi told reporters. "I don't think that is impossible. I think it's quite achievable over the next five years." Ethiopia is one of the world's biggest recipients of foreign aid, receiving $3.3 billion worth of help in 2008, according to the Paris-based Organization for Economic Cooperation and Development. The country's new five-year plan predicts a "base-case" scenario of 11 percent average growth and a "high-case scenario" of 14.9 percent average growth. Ethiopia hopes to exploit growing business ties with China, India and Turkey and is also trying to attract visitors from those countries to boost its largely untapped tourism sector. China has this year invested in road building, hydropower and windfarm projects in the impoverished nation, including almost $1 billion in two dam projects. INFRASTRUCTURE BOOST Ethiopia says the agricultural output upon which the country's economy overwhelmingly relies will be doubled by 2015 by encouraging investment and large-scale farming. Ethiopia is Africa's biggest coffee exporter and the world's fourth largest exporter of sesame. "I think that this is a very ambitious plan but at the very least the base-case scenario is doable," Meles said. "The high-case scenario is not unimaginable." The Ethiopian government predicts growth of about 10 percent for 2010/2011. The International Monetary Fund says the economy will grow by 7 percent. Ethiopia's economic climate is watched by foreign investors interested in commodity exports and its potential oil and gas reserves. The country is one of Africa's largest potential markets -- with a population of about 80 million -- and most of its people have no telephones or bank accounts. Meles, who was returned to power for five more years in a disputed May election victory, has ruled out privatizing the banking and telecommunications sectors despite pressure from Western donors to do so. The former rebel told Reuters in an interview on election day that improving Ethiopia's energy supply and expanding its industries would be his priorities for the next five years, after which he would retire. The plan, called "Growth and Transformation," also predicts a huge expansion of infrastructure, with the country's power production set to increase from 2,000MW to 10,000MW and the construction of 2,395 km of railway lines. Ethiopia plans to spend $12 billion over 25 years on realizing its ambition of become a power exporter on a continent where shortages are common and cost industry dear. (Editing by Richard Lough and Alison Williams) World Add a Comment *We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language or appear to be spam and review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. © Copyright 2010 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. 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