It appears clear that on the heels of the implementation of the macroeconomic reform policy, a broad range of sectors has kicked off yielding results and taking the right path. The unflinching stance of the federal government of Ethiopia to address vital economic encounters rotating around the economy of the country has been registering results giving a wide berth to hoax news.
In the face of worrywarts’ wicked deeds and trumped up stories, Ethiopia has jumpstarted proceeding in the right direction proving them wrong. More to the point, they have been working their fingers to the bone with the intention of badmouthing the promising strides of the reform getting off the right track and bewildering the wider international community.
Following the ongoing macroeconomic reform policy, Ethiopia has become involved in lending a helping hand to its foreign currency reserve demonstrating in black and white the positive outcomes surfacing in a broad range of sectors.
Apart from that the recent macroeconomic reform policy has plunged into bringing widespread stable economic growth to fruition on a state-wide basis in the timeliest manner possible.
According to the current conditions, most people from all backgrounds and socioeconomic groups have been witnessing the prevailing circumstances and the existing scenarios on the ground.
The effectuation of the macroeconomic reform would play a significant role in augmenting efficiency, substituting imports, overcoming debt burden, getting better external earnings in foreign currency and other related aspects.
Ministry of Planning and Development revealed that remarkable achievements have been registered in major economic sectors following the implementation of comprehensive macroeconomic in the country.
Ministry of Planning and Development conducted review of quarterly performance plan for the 2017 EFY and comprehensive macroeconomic reform implementation. A quarterly performance report of major sectors was also presented in the presence of pertinent stakeholders.
Speaking at the occasion, Planning and Development State Minister Tirumar Abate in the recent past said that the recently implemented comprehensive macroeconomic reform has been achieving remarkable results in major economic sectors including in export, FDI, remittance, controlling inflation, among others, according to information obtained from ENA.
The state minister added that the economic reform has not only boosted foreign currency earnings but have also narrowed the gap between the black market and official exchange rates, creating a more favorable environment for exports and attracting foreign direct investment.
Owing to putting macroeconomic reform into practice, investors have begun demonstrating interest to invest in their motherland and taking the country to new frontiers and new opportunities in next to no time.
Ethiopia’s recent commitments to effectuating comprehensive macroeconomic reform policies destines for correcting foreign exchange distortions, tackling the structural balance of payments deficit, and plummeting inflation by reforming the monetary policy framework. These reforms are designed to create a favorable balance to meet national development needs by augmenting domestic income and addressing debt vulnerability.
As things stand at present, the country’s all-embracing reforms have kicked off attaining considerable results and remarkable successes in breathing new life into boosting nation’s economic growth in a permanent manner.
It appears clear that Ethiopia has been bringing into being an all-inclusive macroeconomic reform with the purpose of oiling the wheels of its competitive capacity in terms of business and investment sectors, reinforce indigenous production and other things of a similar kind.
The employment of macroeconomic reform in the immediate present has begun producing outstanding results in various sectors countrywide paving the way for the country’s development undertakings.
In actual fact, for the reason that the macroeconomic reform policy is put in place on proper way, it will boost productivity beyond a shadow of a doubt, facilitate imports, overcome debt burden, progress foreign currency earnings and more of the same at the earliest possible time.
It has commonly been assumed that the reform plays a paramount role in making economic growth happen, tackling structural economic predicaments and other things of a similar kind. Against this backdrop, no matter what naysayers say the positive development unfolding across the country signals the fact that the future is rosy for Ethiopia.
Ethiopia’s comprehensive macroeconomic reforms, being implemented since July 2024, are demonstrating remarkable results in boosting the nation’s economic growth in a sustainable manner, Ministry of Finance announced, as learnt from a local media.
Ethiopia has solidified its position as the largest economy in East Africa and the third-largest in Sub-Saharan Africa. The country has been implementing a comprehensive macroeconomic reform since July this year with the objective of enabling the country achieve high and stable economic growth, maintain single-digit inflation, and build a globally competitive economic system.
The reform measures target a range of issues, including foreign exchange distortions, financial sector strengthening, inflation control, tax revenue mobilization, and improving the business climate.
State Minister of Finance, Eyob Tekalign, in the recent past stated the positive impact of the reforms on various economic indicators. These reforms aim to enhance trade, investment, domestic production, and service delivery.
The State Minister said these reforms have led to a higher and more sustainable national economic growth as evidenced by various indicators.
By enhancing trade, investment, domestic production, and service delivery, the government aims to propel Ethiopia’s overall economic development.
As the whole thing on subject of the macroeconomic reform policy is moving forward in the right direction, the country’s economy for sure will move to the next level of achievement at the earliest possible moment.
If every Tom, Dick, and Harry keeps on standing in unison and forming an alliance, attaining the entire objectives will be as easy as taking candy from a baby and as easy as shelling peas.
BY ADDISALEM MULAT
THE ETHIOPIAN HERALD THURSDAY 19 DECEMBER 2024
