Ethiopia: Govt Set to Hit 7.9% Economic Growth

10 October 2023
The Ethiopian Herald (Addis Ababa)

- Plans economic integration with neighbors

ADDIS ABABA- President Sahlework Zewde announced that the government is working to achieve a 7.9 percent economic growth this Ethiopian fiscal year.

Addressing the 6th year, third tenure of the Joint Session of House of Peoples Representatives (HoPR) and House of Federation(HoF) yesterday, President Sahlework said that the national economy is getting into 'historic shift' since the implementation of the ten-year prospective plan.

All plans are being implemented as scheduled, she said adding that the government is realizing the plan thereby working to record 7.9 percent economic growth this fiscal year.

According to the President, preparations are also being finalized to the second homegrown economic reform.

Government initiatives that aimed at maximizing productivity are bearing fruits . As a result,surplus agricultural and industrial products have been acquired from Let Ethiopia Produce and YelematTirufat development programs, she mentioned.

The agriculture, service, manufacturing, and tourism sectors are projected to grow significantly. Accordingly, some 2.1 million hectares of land will be cultivated to yield 810 million quintalof crops this fiscal year, she indicated.

Sahlework also expressed her government's plan to create 3.05 million new jobs including 500,000 for overseas job seekers. Moreover, about 9.15 million jobs will be created in upcoming three years.

Fiscal policies that are under implementation to arrest the growing inflation will be reinforced, the president said, while mentioning that one of major government plan this yearis also to enhance the manufacturing sector to substitute import goods.

"In line with production initiatives, poverty reduction measures like the school feeding and Sunday market projects will be also sustained," she said.

In her briefing on the political situation, Sahlework stated that the government has reaffirmed its commitment to resolve issues via dialogue .

Likewise, negotiation over internal affairs will be started nationwide this fiscal year as the National Dialogue is anticipated to enter a new phase, she expressed.

This year, the government has renewed its commitment to build democratic institutions, therefore, she pointed out that all parties including armed ones should pursue peace talks.

In connection with border issues, she noted that the government has still firm commitment to continue with peaceful mechanisms. Furthermore, the government is keen to transform its political diplomacy to economic integration with neighbors, she added.

BY YESUF ENDRIS

THE ETHIOPIAN HERALD TUESDAY 10 OCTOBER 2023

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