In the implementation of the GTP, during the 2010-12 period, the gross domestic product (GDP) in real terms grew by 11.4 percent. The GDP growth rate registered in 2011/12 was 8.8 percent. In 2012/13, the GDP grew by 9.7 percent in real terms. Accordingly, the average economic growth rate during the last three years (2010/11-2012/13) of the GTP period was about 10 percent per annum. Though the 9.7 percent growth performance registered in 2012/13 is below the 11.3 percent target set for the fiscal year under review, it was achieved under difficult domestic and global environmental circumstances. One of the objectives of the GTP is to set the economy on a path of structural economic transformation. Economic structural change refers to a long-term shift in the fundamental structure of an economy, which is often linked to sustainable growth and economic development. The table below shows both the economic growth and the shifting nature of the economy, especially the growth of the industrial sector. Table 1. Real GDP Growth in Percent Source: Ministry of Finance and Economic Development (MoFED). In general, the average growth rate of the overall economy has been 10 percent per annum over the past three GTP periods ending 2012/13, which is significantly close to the target of 11.1 percent. This marginal shortfall in growth performance could be compensated over the remaining two GTP years by efficiently executing sector-specific plans and strategies. In these three GTP periods, the average growth targets of agriculture, industry and service were 8.5 percent, 17.8 percent and 11.5 percent, respectively. 15

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