It should be emphasized that the recently effectuated macro-economic reform policy with certainty has embarked on giving a boost to the country’s economy at the earliest possible juncture. In actual fact, if the entire situation keeps going in the same path, the country’s economy will come up with better prospects and better future.
For the realization of the macro-economic reform policy goals every Tom, Dick, and Harry ought to be at the leading age and in center stage turning a blind eye and deaf ear to cooked up stories.
As Ethiopia’s adversaries hate to death the growth of the country, they every so often have been pulling out all the stops to blemish the positive strides of the macro-economic reform policy.
Notwithstanding the fact that they leave no stone unturned to pour cold water on the ongoing reform policy coming up with a broad range of barefaced lies, the whole thing has been moving forward in the right direction as a result of the concerted efforts of Ethiopians.
As putting in place the macroeconomic reform policy without a shred of a doubt assist the progress of securing plethora of benefits in taking the country to whole new level and further stage, each and every one should join hands and stand in unison.
It is crystal clear that as sticking to the newly implemented macroeconomic policy breathes new life into attracting investors from the length and breadth of the world, catapult the country’s economy, eradicate poverty, transform the lives of the general public and other related aspects at the earliest possible time, the general public should give the cold shoulder to trumped up stories.
Ethiopia’s recent macroeconomic reform measures have increased remittance inflow to the country while narrowing the gap between official and parallel markets, economic experts said.
The Experts told local media recently that the implementation of the macroeconomic reform measures have substantially increased remittances that would help, in return, to stabilize the national economy.
Economist Bogale Boshe (PhD) stated that implementation of the macro-economic reform has been scaling up the revenue the country secures from remittance as it has been narrowing the gap between the formal and informal exchanges.
Currently, there is no reason to exchange forex in black market since the transaction of remittance through banks creates credibility, he said, adding that this development encouraged Diasporas to send money home using formal means.
According to him, investors’ property should be legally protected to sustain the increased inflow of remittances. Hence, the loans for local investors should be maximized side by side to the growing remittance to meet demand and supply.
In actual fact, taking golden prospects unfolding in every corner of the country into consideration, Ethiopians residing at home and abroad should cross-pollinate positive ideas with regard to the macro-economic reform. It is a well-known fact that the government has set up major strategic guidelines with the purpose of making certain macro-economic reform program.
As the macroeconomic reform policy paves the way for the general economic growth of the country in terms of a diverse range of sustainable development goals and gives a boost to the country’s economy, all sections of the population should combine efforts.
Ethiopia, which is one of the fastest growing economies, has been attaining vigorous economic progress. Reasoning from this fact, the country is turning out to be a noteworthy player in the African economic setting as well as showcasing its pledge to bring about sustainable Development Goals.
As the reform set the scene for significant economic encounters, remedying the imbalance, easing the debt burden, and getting higher growth sources irrespective of remaining reform ranges, every single one should stand by the side of the government.
It is true that following the implementation of the macro-economic reform, all components of the population have been tossing around their ideas along these lines. Needless to say, the country secures several benefits from the newly implemented macro-economic reform.
Key objectives and goals of the macro-economic reform program revolve around correcting foreign exchange distortions and solving the structural balance of payments deficit problems, and reducing inflation by modernizing the monetary policy framework. Apart from strengthening the inclusiveness, competitiveness, and soundness of the financial sector, the reform creates a favorable balance to achieve our national development needs through domestic capacity by solving debt vulnerability and increasing domestic income, according to sources.
If truth be told, the macro-economic reform policy effectuation has been making progress in the face of some encounters that arise from some groups endeavoring to drag through the mire the positive developments of the reform.
Ethiopia’s live animal export volume has seen significant progress following recent macro-economic reforms, the Ethiopian Agricultural Authority (EAA) revealed.
Speaking to the Ethiopian Press Agency (EPA), EAA Animal Drug Regulatory Lead Executive Officer Solomon Kebede (PhD) in the recent past stated that the reforms have been a turning point for the development of the livestock sector.
He explained that the authority has been actively monitoring the sector and providing support to animal husbandry farms through vaccine distribution and fodder supplies. Additionally, the EAA has extended incentives to local manufacturers, encouraging them to produce high-quality and effective veterinary medicine.
Editor’s Note: The views entertained in this article do not necessarily reflect the stance of The Ethiopian Herald
BY ADDISALEM MULAT
The Ethiopian Herald December 12/2024
