ADDIS ABABA – The macro-economic reform measure taken by the Ethiopian government is a bold step to stabilize the economy through creating a better business environment, Austrian Ambassador to Ethiopia commented.
Approached by The Ethiopian Herald, Ambassador Simone Knapp stressed on the macro-economic reform impacts and stated the reform as a historic, bold step to stabilize Ethiopia’s economy and its partnerships with private sectors and other countries.
“I would really like to congratulate Ethiopia for taking this bold step. I understand this has been well thorough thought through decisions that Ethiopia to undertake this Macro-economic Reforms. These are historic reforms we have seen rarely from other countries that had to take these reforms to take place,” she stated.
According to the Ambassador, Austria’s neighboring countries improved their economy with similar reforms that Ethiopia is now implementing.
Countries established following the end of cold war have changed their political and economic approach to open system. There was difficulty for those countries until they decided to open their economy to private sectors akin to what Ethiopia is doing now, she indicated.
The opportunities these countries gained from those macroeconomic changes are evident, thereby Ethiopia is also likely to be beneficiary for taking this bold step, she said.
“We know and understand that this pauses like some volatility and some uncertainties are the face that the country still has to go through, and there still needs to be a lot of adoptions. Austria supports Ethiopia for the right decisions in which the economy will be open for investors and for partnerships with other countries.”
The macro-economic reform will stabilize the economy. Some reforms are still coming and are necessary to be undertaken. It is also one of reasons initiating the Austrian embassy to invite Austrian companies to see the new business environment and the new business climate here in Ethiopia, she remarked.
To her, this is just the first step bringing these Austrian companies; it is taking making the ball rolling. “Of course, there needs to be follow-up, meetings between the companies and to attract other companies who are not yet coming. This will be a long long-term process of partnering up on the economic field between Austria and Ethiopia,” she emphasized.
BY YESUF ENDRIS
THE ETHIOPIAN HERALD THURSDAY 24 OCTOBER 2024
