19 April 2012

Ethiopia: First Year GTP Registers Promising Economic Growth - Ministry

Bahir Dar — Ethiopia registered fast economic growth in the first year of the Growth and Transformation Plan (GTP), the Ministry of Finance and Economic Development (MoFED) said.

The Ministry and Amhara regional finance and economic bureau join consultative meeting was held in Bahirdar Town of Amhara State on Wednesday.

On the occasion, State Minister Alemayehu Gujo said GTP has enabled nation to undertake encouraging poverty alleviation activities that outpaced Sub-Saharan Countries.

He said 11.4 percent growth has been registered in the first year of the GTP period which helps build firm foundation for economic development.

According to him, agriculture and related activities, industry and other service sectors have registered nine, 15 and 12.5 percent growth respectively.

The Minister said sizeable results have been achieved towards narrowing government budget deficit, enhancing national saving and investment.

However, he said efforts should be intensified to keep down inflation.

State Chief, Ayalew Gobeze on his part said the region exerting utmost efforts to realize the aspirations of the GTP.

He said the state has reaped over 74 million quintals of agriculture produce in 2011 crop season due to intensified efforts exerted in the sector.

He said the fast economic growth has enabled the nation to remarkably reduce poverty in towns and rural areas.

The consultative meeting has aimed at formulating best experiences, identify problems and enhance performances towards the attainment of the GTP.

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