Ethiopia Targets 9% Economic Growth This Fiscal Year, Reports 8.8% Growth Last Year

6 October 2025
Addis Standard (Addis Ababa)

Addis Abeba — President Tayé AtskeSelassie announced that the government aims to achieve 9% economic growth in the current fiscal year (July 2025 - June 2026), following an 8.8% growth recorded in the previous fiscal year (July 2024 - June 2025).

The President made the announcement during his address on the government's annual plan at the joint opening session of the House of Peoples' Representatives (HPR) and the House of Federation (HoF) on Monday. The ceremony was attended by 511 members from both Houses.

President Tayé noted that while the economy showed strong performance last year, the government's focus for the current fiscal year is to consolidate and raise growth to 9%. Gold production, he highlighted, saw a remarkable increase, rising from 3.9 tons in the 2023/24 fiscal year to 38.87 tons in 2024/25.

He emphasized that the economic expansion witnessed prior to the 2018 reform "was not built on a sustainable financial foundation," which he said contributed to mounting public debt and macroeconomic imbalances. The government, he added, is now "shifting its development direction from limited sectors towards multi-sectoral economic foundations."

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The President reported that agricultural production increased by 24.7%, rising from 1.2 billion quintals in the 2023/24 fiscal year to 1.57 billion quintals in 2024/25.

In the industrial sector, manufacturing capacity utilization rose from 59% to 65%.

He also noted that Ethiopia hosted over 150 international conferences during the past fiscal year, reflecting growing engagement in the global arena.

According to President Tayé, total bank credit reached 822 billion Birr last fiscal year, with 77% of the loans extended to the private sector.

In exports, the country generated 8.3 billion USD--the highest in its history.

The President concluded that the government's economic agenda for the current year prioritizes sustaining this momentum, strengthening macroeconomic stability, and broadening growth across key sectors.

Read the original article on Addis Standard.

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