ADDIS ABABA – Ethiopia’s economy has been projected to grow by 8.4% for during 2024/25 fiscal year (2017E.C)…
Having implemented the homegrown economic reform , the reform has been expected to attract many investors in the coming years. The country’s recent macroeconomic reforms would also give impetus to such economic move,
Due to the wide ranges of reforms that have been taken to effect in a bid to address the so far faced challenges., the macroeconomic reforms implementation would for sure see some progress this year alone .
Following the newly- introduced currency floating , Foreign exchange rate between banks and parallel markets has remarkably been lowered.
Therefore, the macroeconomic reforms implementation has been registering encouraging achievements in the shortest times; It is also expected to register better results in the near future.
The reform mainly targets on controlling inflation, solving foreign exchange shortages, reducing debt to healthier levels and fixing the country’s balance of payments deficit, it was learnt .
Moreover, it aims for meeting local development demands by itself increasing revenues and strengthening healthy finance via swift service delivery. The country has also set to launch Ethiopian Security Exchange market in the coming october.
Hence, the country has been exerting efforts to finalize construction of the main activities of the Abbay Dam especially to complete 100% of civil works construction in the coming December. Recently, Prime Minister Abiy Ahmed (PhD)said that some seven turbine of the dam would produce energy in December. The overall dam construction would get its completion in the coming rainy season.
According to him, in addition to completion of civil works construction, most of dam construction activities would be finalized in the coming six months.
Meanwhile, the country has been working to finalize agenda collection and identification chapter of National Dialogue in the coming October, it was learnt.
BY TSEGAYE TILAHUN
THE ETHIOPIAN HERALD TUESDAY 17 SEPTEMBER 2024
