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    Ethiopia economic outlook. Oct 12, 2023 · At the end of the visit, Mr.

    Ethiopia economic outlook 2% growth in FY2022/23. Ethiopia, The Federal Democratic Republic of. 3% in 2025 and 2026, with inflation easing further. Gabon. 53 in 2025. Discover the world's research. With improved foreign exchange conditions, controlled inflation, and a clear focus on sustainable growth, Ethiopia is setting a strong foundation for a more prosperous future. Piris issued the following statement: “The IMF team noted the important steps that have been taken to bring down inflation and stabilize the economy, including significant fiscal and monetary tightening. 2 Outlook and risks 3. Both 2021 and 2022 have been challenging years for the Ethiopian economy. In 2021, real GDP growth was 6. On the economic front, the in Ethiopia and Proposed Directions1 Atnafu Gebremeskel 1. Services sector remains resilient, while manufacturing continues to be weak. %PDF-1. Real gross domestic product (GDP) is estimated to have grown by 10. With its large consumer markets, low-cost labor, global connectivity through its aviation hub and a national airline with approximately 125 passenger connections, Ethiopia is a preferred 1 day ago · The Ethiopian government remains committed to enhancing productivity, improving tax collection, and reforming public services to support sustainable economic growth. 3+ billion citations; International Support and Future Outlook. 9 percent in FY2017¹. Nonetheless, the • The Ethiopian economy continues to face challenges in 2022 due to the domestic uncertainty, Ukraine conflict, drought, global supply shocks, and a difficult global and regional environment. 2% in 2023/24, driven by industry and by private consumption and investment. com The global economy remains resilient, despite differences in the strength of activity and incomes across countries and sectors. The Ethiopian economy grew by 8. During the Financial and Private Sector Dialogue on the State and Outlook of the May 23, 2024 · Despite the broad positive outlook, the economy still faces challenges such as unemployment, elevated food inflation, high debt repayment. Ethiopia experienced significant economic growth averaging 10. • Protests continued in 2017 and early 2018 mainly in the Oromia and Amhara regions demanding major Ethiopia Economic Outlook Real GDP growth fell to 5. But there is pressure across all macroeconomic indicators. Feb 19, 2024 · Economic Growth: Ethiopia’s economy grew by 7. Find information about The Federal Democratic Republic of Ethiopia and the IMF. 3% in 2022 from 5. Nov 15, 2024 · Ethiopia’s economic outlook is promising, with the Ministry of Finance projecting an impressive 8. 0% growth seen in 2023. Oct 17, 2024 · Economic Growth and Inflation. This is higher than the long term average of 11. 2018 African Economic Outlook • Real GDP growth recovered to 10. Feb 23, 2021 · ADDIS ABABA – Ethiopia’s economy will recover and expand by 8. Ethiopia The Human Capital Index (HCI) database provides data at the country level for each of the components of the Human Capital Index as well as for the overall index, disaggregated by gender. Strong ownership has Oct 12, 2023 · At the end of the visit, Mr. 6% in 2021. Three analytical notes accompany the April 2024 Regional Economic Outlook: Sub-Saharan Africa: Economic Growth in Ethiopia. S ectors such as banking and telecoms are closed to foreign competition and heavily influenced by government policy, constraining Economy | Forecast | Monetary policy outlook | August 23rd 2023 Ethiopia loosens forex restrictions to boost economy As Ethiopia's foreign-exchange reserves and external position improve, we expect further loosening of capital controls. The four-year financing package will support the authorities’ Homegrown Economic Reform Agenda to address macroeconomic imbalances, restore external debt sustainability, and lay the foundations for higher, inclusive, and private sector-led growth. 18B one year ago. During this period, Ethiopia was one of the fastest-growing economies in the region with annual average GDP growth of 10. 2 Private sector finance flows, gaps and needs for green growth in Ethiopia 3. 8% in 2022/23 and 6. Jul 12, 2024 · Ethiopia meet its balance of payments needs and provide support to the budget. 3 percent both in 2025 and 2026, broadly unchanged from the October 2024 World Economic Outlook (WEO) forecast with an upward revision in the United States offsetting downward revisions elsewhere. 30% last year. Crucial measures for geographic asset allocation decisions and a way to reduc the risks involved in business, financial and government investment decisions. 81 one year ago. Sep 24, 2024 · The World Economic Outlook (WEO) is a survey of prospects and policies by the IMF staff, usually published twice a year, with updates in between. Figure 1: Ethiopia’s GDP Growth and Inflation Trend (annual change, %) 2 April 2024 Sources: Afreximbank Research; IMF World Economic Outlook (2024). Economic Growth in Ethiopia. The WEO is released in April and Jan 29, 2025 · The Board approved Ethiopia’s request for a four-year arrangement under the Extended Credit Facility (ECF arrangement) in July 2024 to support the authorities’ Homegrown Economic Reform Agenda. The reforms have not only addressed long-standing economic bottlenecks but also laid the groundwork for a resilient and competitive economic system. 30%, compared to 13. Oct 22, 2024 · The latest World Economic Outlook reports stable but underwhelming global growth, with the balance of risks tilted to the downside. of the pandemic and Tigray war, economic fallout from the Ukraine crisis, and high inflationary and debt pressures (figure 1). The authorities’ economic program, supported by the four-year ECF arrangement, envisages a comprehensive policy package to stimulate private sector activity and increase economic openness to promote higher and more inclusive growth. Ethiopia’s economy grew 7. Press Conference: Regional Economic Outlook for Sub-Saharan Africa: Reforms amid Great Expectations. Feb 10, 2023 · GDP growth is projected at 5. a. Note: Jul 31, 2024 · Country Focus Report 2024 - Ethiopia - Driving Ethiopia’s Transformation the Reform of the Global Financial Architecture Nov 11, 2024 · The International Monetary Fund (IMF) has revised its inflation forecast for the 2024/25 year, commending the government’s efforts to control rising prices in light of recent macroeconomic reforms. However, it also remains one of the poorest, with a per capita gross national income of $1,020. Oct 8, 2024 · With about 126. In the face of major economic challenges, whether macro policies in the coming year take a mostly ‘status quo approach’ or instead follow a series of ‘breakthrough ETHIOPIA . 1 Current flows of Feb 19, 2024 · Overall: As Ethiopia enters 2024, the macroeconomic and socioeconomic situation remain challenging. 53B, up from 620. 7% in 2021 and 4. The presentation, led by Tobias Rasmussen, the Resident Representative, Jean-Marc Natal, the Deputy Chief of the WEO Division, and Martin IMF Office in The Federal Democratic Republic of Ethiopia Office Information. It presents analyses and projections of the world economy in the near and medium term, which are integral elements of the IMF’s surveillance of economic developments and policies in its member countries and of the global economic system. Nov 20, 2024 · ADDIS ABABA - Government has made public a long-term economic transformation plan that could span 25 years. Construction and services sectors account for most of the growth from the supply side. Jun 21, 2022 · In a statement today, Jain-Chandra said the Ethiopian economy has been subject to multiple shocks over the past two and a half years. The EEA 5 days ago · Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Introduction The current state of the Ethiopian political Economy can best be captured by the contrast between the promise of the ruling party and people’s high expectation from the new administration which was inaugurated on October 4, 2021. 4% GDP growth for the current fiscal year. Macroeconomic performance Real GDP growth slowed in 2017/18, due partly to civil unrest, political uncertainty, and policy adjustments that involved fiscal consolidation In 2011, the economy continued on the high-growth trajectory of the previous seven years. Analysis Issue No. Inflation remains high, reserves remain low, and the twin fiscal and current account deficits are persistent. 7 percent in 2021/22 fiscal year, after shrinking to 2 percent in the current fiscal year due to the impact of the Covid-19 pandemic, the International Monetary Fund (IMF) said on Tuesday. 2. Two Interim Economic Outlooks give a further update on annual GDP and inflation projections for G20 countries, the OECD, euro area and world Mar 2, 2024 · Nevertheless, Ethiopia’s growth outlook is poised to receive a significant boost from the peace dividend, a resurgence in tourism, and the potential liberalization of additional sectors. The Fund has issued its Regional Economic Outlook for Sub-Saharan Africa on Thursday. 1 percent. 1 percent in 2024, following the positive impact of the peace dividend. ” Ethiopia, the second most populous country in Africa, witnessed significant economic growth from 2004 to 2019, often exceeding 10 percent annually. Dec 30, 2024 · the Ethiopian economic realities. Nov 4, 2024 · The Board approved Ethiopia’s request for a four-year arrangement under the Extended Credit Facility (ECF arrangement) in July 2024 to support the authorities’ program aimed at addressing macroeconomic imbalances, restoring external debt sustainability, and laying the foundation for high, private sector-led growth. However, the path to recovery is fraught with challenges. on the Ethiopian Economy OCT 22 4 The Ethiopian economy had registered a sustained and one of the fastest growth rates in the world for about 15 years – with GDP growth rates averaging about 10 percent per year between 2004-2018. For more information on gdp, visit our dedicated page ⊲ Economic Growth: Ethiopia’s economy grew by 7. Understanding the role of monetary policy in recent global disinflation, and the factors that The economy of Ethiopia is a mixed and transition economy with a large public sector. The Ethiopian economy stands at a critical juncture at the start of 2023, following two years of conflict that brought immense humanitarian, social, and material losses. org. 8% in 2024, due to post-Tigray war reconstruction and lower inflation, which represents a modest acceleration from the 6. 1 The imperative for green growth and the role of private sector financing 3. Inflation is projected to decline to 28. 9% in 2020 and 0% in 2021. Feb 17, 2024 · ADDIS ABABA – Africa will account for eleven of the world’s 20 fastest-growing economies in 2024, the African Development Bank. Source: IMF World Economic Outlook Database (2023) 2. The Fund-supported program addresses macroeconomic imbalances, aiming to restore external debt sustainability, and lay the foundations for high, private sector-led growth. 2 percent in 2023 according to the Government figures, while the IMF estimated the economy grew by 6. The authorities aim to address macroeconomic imbalances and remain committed to structural reforms to support a transition to private sector-led growth over the medium term. 1/Feb. Contributing factors include: Home | United Nations Development Programme World Economics provides a full review of Ethiopia's economic, dempgraphic and ESG performance. To address a significant external financing gap, the Government Oct 22, 2023 · By Muluken Yewondwossen During the inaugural World Economic Outlook (WEO) presentation event in Africa at the National Bank of Ethiopia (NBE), the International Monetary Fund (IMF) provided insights into Ethiopia’s economic prospects and challenges. This is a change of 10. 79%. We at the EEA are confident that this publication will once again become a valuable resource for all stakeholders interested in the Ethiopian economy. This is a change of 9. 25+ million members; 160+ million publication pages; 2. Sources: Ethiopian Embassy in London (2017); Ethiopian Embassy in Belgium (2021); NBE (2022); UNDP (2022); World Bank (2022d). As monetary policy is eased amid continued disinflation, shifting gears is needed to ensure that fiscal policy is on a sustainable path and to rebuild fiscal buffers. 8% since 2005, primarily driven by public-sector-led development. 4% in the decade to 2021, significantly above the 3. Renewed inflationary pressures could interrupt Ethiopia. This projection only took into account the impact of COVID-19 and not on going security situations in various parts of the county. This has put in place a critical foundation for success of the Homegrown Economic Reform Agenda, which aims to fulfill Ethiopia’s considerable economic Discover economic indicators for Ethiopia, such as GDP, GNP and FDI to use in your data forecasts and economic reports on the Ethiopia's economy with CEIC. Moody’s also rated Ethiopia Caa2, with negative outlook. Looking forward, Ethiopia’s economy is projected to stabilize and grow at a rate of 7. Global growth is projected to be 3. from 8. Ethiopia Forecast - was last updated on Sunday, March 16, 2025. The Ethiopian economy recorded average real GDP growth of 8. 3%, also supporting growth. 8% since 2005, which has mainly been underpinned by public-sector-led development. Ethiopia’s gross domestic product (GDP) growth is estimated to have rebounded to 10. 4% in 2022). in Ethiopia and Proposed Directions1 Atnafu Gebremeskel 1. With ongoing investment in agriculture and macroeconomic stability measures, Ethiopia is making strides toward a more resilient and inclusive economy. This resulted in 6-fold increase in the per capita income of the population which stood at US$ 850 in 20191. Africa's second most populous country, Ethiopia, with a population of more than 120 million people, has experienced sustained growth averaging around 10% per year over the past decade. 4% in 2024-25. 1 percent in 2023 and 20. The index measures the amount of human capital that a child born today can expect to attain by age 18, given the risks of poor health and poor The OECD Economic Outlook presents the OECD’s analysis of the major short-term global economic trends and prospects. 5–8% annually over the medium term, bolstered by private sector-led growth and increased foreign direct investment. Growth has rebounded after the multiple shocks in recent years. The purpose of this report is to review the salient economic events and trends in Ethiopia and to assess their significance for economic and financial development. The WEO is released in April and Jun 21, 2022 · Multiple shocks hitting the Ethiopian economy have dampened growth, further increased inflation and created fiscal and external pressures. Feb 10, 2023 · 2. Standard and Poor’s rating has been downgraded to CCC in 2022, and has remained with negative outlook. 1% and 7. 2% this year and 3. Ethiopia, Africa’s oldest independent nation and the second most populous country after Nigeria, boasts a young and growing population of almost 110 million. Jan 30, 2025 · In October, the International Monetary Fund praised Ethiopia’s economic reforms, indicating that they were “progressing well” and had resulted in “enhanced availability of foreign currency. This growth trajectory places Ethiopia among the world’s 20 fastest-growing economies. Jan 21, 2025 · Ethiopia Economic Outlook Ethiopia’s economy grew 7. Access the latest politics analysis and economic growth summary through 2011 for Ethiopia from The Economist Intelligence Unit Ethiopia’s economy grew 7. 9% in FY 2016/17. Although inflation remained high, due to money Jun 27, 2017 · These reports give a great snapshot of the economic stability in Ethiopia, and the current outlook for opportunities and risks going forward in 2017 and beyond. The government of Ethiopia is in the process of privatizing many of the state-owned businesses and moving toward a market economy . 1% during the fiscal year 2023-24 and projected to grow by 8. zerihun@afdb. 9% and agriculture, at 32% of GDP, grew 6. The transition to a market-determined exchange rate has been progressing 6 For example, that the Global Economic Outlook 2020 published in October by IMF projects that the Ethiopian economy will go through very sharp decline in growth rates: 1. 72% from one year ago. There are growing concerns that the deteriorating security situation in the country is an obstacle to free flow of investment. Abebe Aemro Selassie, Director, African Department, IMF Jul 28, 2024 · Despite challenges, Ethiopia's economic outlook for 2024 appears promising, fueled by resilience, growth drivers, and a commitment to financial stability and reforms. The World Bank Group took a holistic view of Sub-Saharan Africa and found that growth within this region is recovering due to “rising commodity prices, strengthening external demand Economic Indicators. 73% from one year ago. Ethiopia GDP Per Capita Outlook is at a current level of 1733. Ethiopia - General government final consumption expenditure (% of GDP) Ethiopia - Gross capital formation, Public sector (current US$) Ethiopia - Central government, total revenue and grants (Current US $) Ethiopia - Gross domestic product, (constant prices US$) Ethiopia - Gross capital formation, Private sector (% GDP) 2023, to September 30, 2023, offering valuable insights into the state of the Ethiopian economy based on selected macroeconomic indicators. [ 26 ] Ethiopia Economic Snapshot H2, 2017 . 1. Ethiopia’s economy demonstrated remarkable growth, expanding by 8. However, it is crucial to remember that these are just projections based on current trends and assumptions. 2014 . Strengthening social safety nets to Kenya and Ethiopia show steady signs of economic growth—but inflation and weak currencies weigh down on their otherwise optimistic outlook for 2024. Economic development is a broader concept that involves qualitative progress such as improved literacy, life expectancy, and standards of living. According to official statistics, Ethiopia’s annual rate of economic Jan 30, 2024 · "World Economic Outlook January 2024 Update" published on 30 Jan 2024 by International Monetary Fund. Read More Nov 5, 2024 · Outlook and Risks. The country is projected to Jan 21, 2019 · Ethiopia Economic Outlook, AEO2019! January 21, 2019; 0 [Spread eepBp if you like it]. For more information on gdp, visit our dedicated page Jul 29, 2024 · This paper presents The Federal Democratic Republic of Ethiopia’s Request for an Arrangement under the Extended Credit Facility. These shocks include the COVID-19 pandemic, drought, conflict in the north of Ethiopia, and the spillover effect of the war in Ukraine as well as a sharp fall in donor financing and Foreign Exchange (FX) shortage. 4% in 2021/22, led by 7. Despite the successful implementation of a flexible exchange rate, the response of foreign exchange supply has been slower than anticipated in the initial months following the reform’s […] The World Economic Outlook (WEO) database contains selected macroeconomic data series from the statistical appendix of the World Economic Outlook report, which presents the IMF staff's analysis and projections of economic developments at the global level, in major country groups and in many individual countries. In the face of major economic challenges, whether macro policies in the coming year take a mostly ‘status quo approach’ or instead follow a series of ‘breakthrough Strong economic growth continued in 2014/15, but the drought slowed down Ethiopia’s growth to 8 percent in 2015/16. The Macroeconomic Indicators provide a comprehensive look at past, current, and Jul 26, 2016 · Ethiopia has experienced double-digit economic growth, averaging 10. 0% the previous year and is projected to remain strong at 8. The World Bank forecasts that Sub-Saharan Africa’s economic growth will increase to 3% in 2024, with further acceleration to 4% by 2025-2026. Jul 19, 2022 · In recent years, Ethiopia has embarked on an industrial parks' construction and commissioning strategy as part of a broad economic drive to make the country a light manufacturing hub in Africa by Jan 17, 2025 · Global growth is projected at 3. In response, in AI-generated Abstract. 2012/13 was Jul 18, 2019 · As I have been reading and learning more about Ethiopia’s economy and preparing this address, there seem to be two important points on which there is broad agreement: Over the last 25 years, Ethiopia has made incredibly important development progress, underpinned by rapid economic growth. The peace dividend, a rebound in tourism and liberalization of key sectors are expected to boost the growth outlook. 72, up from 1565. Inflation has continued to fall, supporting real incomes, but consumer confidence is yet to recover to pre-pandemic levels in many countries. 0 in 2015/16 due to the recent drought affecting agricultural production with spillovers on the trade sector. Gambia . 4%. | Find, read and cite all the research you need on ResearchGate Economic – What economic policies, trends and structures in Ethiopia are expected to affect the organization, what is this influence’s degree? Sociological – What cultural and societal aspects of Ethiopia will work upon the demand for the business’s products and operations? +44 20 8123 2220 info@marketpublishers. Jul 18, 2019 · As I have been reading and learning more about Ethiopia’s economy and preparing this address, there seem to be two important points on which there is broad agreement: Over the last 25 years, Ethiopia has made incredibly important development progress, underpinned by rapid economic growth. Ethiopia has a positive growth outlook, and foreign investment in infrastructure - and increasingly manufacturing - is growing. The multiple shocks render macroeconomic management challenging. Regional Economic Outlook: Sub-Saharan Africa—A Tepid and Pricey Recovery , was prepared by Adrian Alter (team lead), Cleary Haines, Grace Li, and Thibault Lemaire, under the guidance of Wenjie Chen. Industry, at 28% of GDP, grew 6. Jun 28, 2024 · Insight Into Consumer Spending. Ethiopia. Our forecast for improving year-on-year consumer spending growth in Ethiopia in 2024 is in line with our Country Risk team's forecast for economic growth of 6. On the economic front, the Apr 12, 2017 · Economic growth refers to an increase in a country's real GDP or output, measured quantitatively. 6% in 2021 but remained above East Africa’s average (4. 1 Recent macroeconomic and financial developments 2. 1% in 2022/23, up from 6. Inflation rose to 34% in 2022 from 26. Oct 23, 2024 · Ethiopia Inflation Rate Outlook, Average Consumer Prices is at 13. Trade & Investment SWOT Strengths Weaknesses . 7 %µµµµ 1 0 obj >/Metadata 2616 0 R/ViewerPreferences 2617 0 R>> endobj 2 0 obj > endobj 3 0 obj >/XObject >/Font >/ProcSet[/PDF/Text/ImageB/ImageC/ImageI Ethiopia: The GDP (gross domestic product) per capita in Ethiopia is forecast to amount to US$892. Ethiopia GDP Outlook is at a current level of 680. The actual path of Ethiopia’s economic development will depend on a multitude of factors, both internal and external. Demand-side drivers of growth included private consumption and investment. Ethiopia’s economic growth is projected to continue its upward trend, though at a slower pace than before the COVID-19 pandemic. The Outlook provides projections across a range of variables for all member countries, the euro area, and selected non-member countries. Ethiopia - Current economic position and prospects The Economic freedom index measure ten components of economic freedom, grouped into four broad categories or pillars of economic freedom: Rule of Law (property rights, freedom from corruption); Limited Government (fiscal freedom, government spending); Regulatory Efficiency (business freedom, labour freedom, monetary freedom); and Open Markets Keywords: Ethiopia economic growth opportunities, Africa economic development prospects, Ethiopia influence in global markets, economic transformation in Ethiopia, potential of Ethiopian economy 2023, inspire change in African economies, Ethiopia future economy outlook, socioeconomic development in Ethiopia, creating change in Ethiopia, innovative growth in Africa Goldman Sachs’s predictions offer a promising outlook for Ethiopia’s economy in 2050. 8% for FY 2017/18 and FY 2018/19, respectively. December 2022, Fitch, an international ratings agency, downgraded Ethiopia’s ratings due to lack of external financing to meet financing gaps. Country Economic Brief. 2% average for Sub-Saharan Africa. However, the high economic growth registered from the 2000s on resulted in rapid build-ups of domestic and foreign debt, and in double-digit inflation. 3 days ago · Ethiopia’s economic outlook remains fragile yet cautiously stable, with reforms bringing both opportunities and risks. 2% in fiscal year 2014/15. Apr 28, 2022 · ADDIS ABABA – The International Monetary Fund (IMF) said it expects Ethiopia’s economic growth to slow in 2022 due to the impacts of internal conflict and pandemic. Ethiopia Economic UpdatE ovErcoming inflation, raising compEtitivEnEss the World Bank the World Bank 1818 H Street, Nw World Economic Outlook (2011). Stagnating incomes in sub-Saharan Africa’s resource-intensive economies necessitate more effective fiscal management and broad-based structural reforms. The World Economic Outlook (WEO) database contains selected macroeconomic data series from the statistical appendix of the World Economic Outlook report, which presents the IMF staff's analysis and projections of economic developments at the global level, in major country groups and in many individual countries. Jul 29, 2024 · This paper presents The Federal Democratic Republic of Ethiopia’s Request for an Arrangement under the Extended Credit Facility. The near-term outlook is characterized by divergent paths, while medium-term risks to growth are tilted to the downside. PRIVATE SECTOR FINANCING FOR CLIMATE AND GREEN GROWTH 3. Though . Supply-side drivers of growth were industry and services, and demand-side drivers were private consumption and investment. 9% growth in the services sector, which accounts for 40% of GDP. The success of debt restructuring, coupled with fiscal and monetary policy adjustments, will be pivotal in restoring investor confidence and improving Ethiopia’s credit profile . It does not necessarily improve living standards. 3%. Ethiopian economic outlook Over the last two decades, Ethiopia had impressive economic growth (especially between 2004 and 2019). According to MoPD, the growth Ethiopia is witnessing is not generating enough job opportunities for new job seekers joining the labor market. Outlook The Ethiopian economy has experienced impressive growth performance over the last decade with average GDP growth rate of 11 %, which is about double of the average growth for Sub Saharan Africa. Jan 13, 2024 · PDF | Offers the state of the Ethiopian Macroeconomy and its prospects for 2023/24 fiscal years. Tel: (251-11) 662-7800 Tel: (251-11) 5176161 Tel: (251-11) 8603791 Jan 10, 2024 · Overall, despite facing challenges, Ethiopia's economic outlook for 2024 appears promising, fueled by resilience, growth drivers, and a commitment to financial stability and reforms. Dec 2, 2024 · Economic Growth and Resilience. ECONOMIC PERFORMANCE AND OUTLOOK 2. Nov 27, 2024 · As Ethiopia continues its journey of economic transformation, the collaboration with the IMF serves as a testament to the country’s commitment to reform and resilience. 5 million people (2023), Ethiopia is the second most populous nation in Africa after Nigeria, and one of the fastest-growing economies in the region, with an estimated 7. Growth has been broad-based, with the services and the industrial sectors growing at the highest rates. ukenf dgr fmbqxo kudjyz pvkkyer lmksz uxyr zes liiv lvul gmwvn hzcg efrvcio rovrko xrwrn