Ethiopia Stepping Into Glorious Future

Yesterday, Prime Minister Abiy Ahmed gave details about various development, political, economic and security issues addressing to questions that were raised by MPs at the 5th term and 6th year first extraordinary session of the House of Peoples' Representatives (HPR).

As to the premier ,Ethiopia's financial sector, export performance , manufacturing industries and mining have been made to see great strides in terms of generating more income and capital and creating more jobs after carrying out the necessary and timely reforms during the past two and half years.

Notably, for the first time bank deposits have reached one trillion Birr and the number of account holders are now over fifty million, from 38 million last fiscal year. Currently there are over six thousand private and state owned bank branches across the nation, thus, the ever-growing number of bank branches have recently made 1.3 million unbanked population to obtain various bank services in nearby areas.

In fact, the banking sector is expected to be more modern through introducing various digital banking services in a bid to be competitive in the region . However, the ongoing reform and the new currency change have enabled banks to deposit extra 37 billion Birr during one month window period.

Now ,Ethiopia's GDP is surpassing 100 million USD mark. It is a great achievement as the country has been toiling day and night to ensure sustainable development and social justice for all.

Despite encouraging improvements in the overall economy, inflation has been yet posing great challenge to the day to day lives of fellow citizens, therefore, a lot need to be done in lowering the existing double digit inflation .

It is true that the incumbent's project execution capacity has been improving from time to time. That is why some projects that saw construction delays including the Grand Ethiopian Renaissance Dam (GERD) are being built in a swift manner as never before. Nevertheless, still some mega projects are lagging behind time for various reasons. Hence, corrective measures should be taken to this end sooner than later.

In sum, Ethiopia is just stepping into its glorious future in many ways as it has boldly worked on curing socio- economic ills by all means.

More From: Ethiopian Herald

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