Ambassador Taye Atske-Selassie was appointed as new president of Ethiopia during the fourth-year joint opening session of the House of Peoples Representatives (HPR) and the House of Federation (HoF) on Monday. Following his oath, President Taye addressed the two houses and presented government’s plans for the 2024/25 fiscal year. Here are the major tips from the president’s speech.
Ethiopia’s economy to grow by 8.4 percent: President Taye
The government has an ambitious plan to develop the economy sector in this fiscal year, 2024/25. The government’s focus is to ensure sustainable development by giving top priority for climate-resilient agriculture, fiscal policy reforms, and expansion of construction and service sectors.
Ethiopia’s economy recorded a growth rate of 8.1 percent during the concluded Ethiopian fiscal year. For the current budget year, the country’s economy is projected to grow by 8.4% and government revenue from tax and non-tax sources expected to reach 1.5 trillion Birr.
Interms of export, Ethiopia has a plan to earn five billion USD incomes from value-added export commodities and total export revenue to reach 10 billion USD.
Ethiopia’s firm stance to remain stabilizing force in HOA region
Ethiopia’s diplomatic approach focuses on balanced and give-and-take principle. Ethiopia’s win-win diplomatic approach is unwavering stance of the country. By strengthening its traditional approach of win-win diplomacy, Ethiopia is committed to peace and stability in the Horn of Africa.
Ethiopia’s foreign policy prioritizes peace and cooperation with neighboring countries and with the rest of the world. Despite the challenges Ethiopia is facing, Ethiopia will continue to remain a stabilizing force in the region. Our diplomatic efforts are concentrated on preserving Ethiopia’s positive standing in regional peacemaking processes.
National Dialogue key to ensure all-rounded peace
Ethiopia is undertaking National Dialogue process to ensure sustainable peace. Ethiopia is working extensively to achieve the goal of the National Dialogue and the process is ongoing based on plans.
National Dialogue is crucial to nation building process and the Ethiopian National Dialogue Commission (ENDC) is working demonstratively to realize the country’s vision of ensuring sustainable peace.
By completing the preparation phase, ENDC already is undertaking agenda gathering stage.
Foreign Direct Investment (FDI) inflow and Job creation
During the fiscal year, Ethiopia has a plan to attract 5 billion USD FDI inflows in to the country. In addition, job creation remains a major focus of the government in the budget year. Accordingly, the government has a plan to create 4.3 million new jobs, including 700,000 overseas positions.
National Dialogue key to ensure all-rounded peace
Ethiopia is undertaking National Dialogue process to ensure sustainable peace. Ethiopia is working extensively to achieve the goal of the National Dialogue and the process is ongoing based on plans.
National Dialogue is crucial to nation building process and the Ethiopian National Dialogue Commission (ENDC) is working demonstratively to realize the country’s vision of ensuring sustainable peace.
By completing the preparation phase, ENDC already is undertaking agenda gathering stage.
Ethiopia earns 700 million quintals from crop production
Following the national reform, the agriculture sector is among the top sectors registered development. During the concluded budget year, the agricultural sector has registered a growth of 6.9 percent.
Ethiopia earns some 700 million quintals of major crops in the last fiscal year. 230 million quintals of production was achieved from irrigation. Efforts to supply wheat to the export market are strengthened.
GERD symbol of Ethiopia’s remarkable achievement
In modern Ethiopian history, the Grand Ethiopian Renaissance Dam (GERD) is a mega project that represents Ethiopia’s outstanding achievements. The civil engineering works of the flagship project is already completed.
The achievement registered on the construction of the flagship project, GERD is due to the remarkable contribution of all Ethiopians. The collective efforts of Ethiopians in this giant hydropower dam will be remembered in the history of Ethiopia.
THE ETHIOPIAN HERALD SATURDAY 12 OCTOBER 2024
