stylistic:style_transfer, stylistic:tone
Economy

The economy consisted of centuries old barter system with "primitive money" and currency of various kinds until the 20th century in the framework of feudal system. Peasants worked to produce and fixated their activities to taxation, marketing infrastructure and agrarian production.

In 1905, Menelik II established the first bank, Bank of Abyssinia following concession from British occupied National Bank of Egypt in December 1904, that used to monopolize all government public funds, loans, print banknotes, mint coins and other privileges. It expanded branches to Harar, Dire Dawa, Gore and Dembidolo and agencies in Gambela and transit office in Djibouti. In 1932, it was renamed as "Bank of Ethiopia" following paid compensation by Emperor Haile Selassie. To promote industrial and manufacturing expansion, Haile Selassie, with assistance of National Economic Council, embarked development plan encompassing three Five-Years Master Plan from 1957 to 1974. Between 1960 and 1970, Ethiopia enjoyed an annual 4.4% growth rate in per capita and gross domestic product (GDP). There was an increase of manufacturing growth rate from 1.9% in 1960/61 to 4.4% in 1973/74, with wholesale, retail trade, transportation, and communication sectors increased from 9.5% to 15.6%. Ethiopia exported around 800,000 bushels of wheat, mainly to the Kingdom of Egypt, The Dutch East Indies, and Greece. The GDP of Ethiopia around 1934 was $1.3 billion, before dropping drastically due to the Second Italo-Ethiopian War.