On Thursday, Prime Minister Abiy Ahmed (PhD) responded to the parliamentary inquiries during the 21st Regular Session of the House of Peoples Representatives (HPR). He addressed current economic, political, social, and regional issues while answering the lawmakers’ questions. Here are the significant points.

 Inauguration of GERD!

Ethiopia is preparing to inaugurate its flagship mega project, the Grand Ethiopian Renaissance Dam (GERD) in the coming six months. The GERD is a loan and external fund-free project, fueled by nationwide cooperation of all Ethiopians from all walks of life. This historic national project is on track for completion.

We will inaugurate the dam within the next six months. The precise timing of the inauguration may be adjusted to accommodate final preparations and leverage the rainy season, given the project’s location in a hot region.

Ethiopians will make history by cutting the ribbon together around the beginning of the next Ethiopian year, which begins on September 11.

 On Ethiopia’s peaceful approach to secure Red Sea access

Currently, Ethiopia’s demand to regain access to the sea is becoming no more a surprise for the international community. Still, there are confusions or misunderstandings on the issue. Ethiopia has no intention to resolve access to the Red Sea through conflict but through peaceful dialogue and cooperation with neighboring countries.

Despite some uncertainty about its concept, however, the rule of law should be the governing principle for the conduct of States in their mutual relations. We have no desire for war or conflict with any neighboring country over access to a seaport. Ethiopia has no intention of invading Eritrea to gain Red Sea access. The Eritrean people are our brothers, and we must grow together.

Ethiopia demands to secure access to the sea through peaceful means with a win-win approach. Our aim is development through cooperation, not confrontation. We seek negotiation rooted in mutual benefit, ensuring prosperity for both peoples.

 Ethiopia cuts inflation to 15%

With continuous measures, especially following the full implementation of the macroeconomic reform, Ethiopia is registering remarkable achievements in the economy. With these measures, Ethiopia has slashed inflation from 29% last year to 15%, which is a remarkable achievement.

Falling inflation was a key target of Ethiopia’s macroeconomic reforms and the recent reform efforts are successful in curbing it. Falling inflation-now at 15%-slows price growth, not living costs directly, and subsidies are aiding low-income groups.

 On Ethiopia’s 2024/25 budget year economic growth target

Ethiopia aims to achieve 8.4% economic growth in 2024/25 budget year. With the current robust economic development being registered during the past eight months, Ethiopia is confident to secure 8.4% economic growth.

 On establishing a local fertilizer factory

The demand for fertilizer is growing in Ethiopia as the agriculture sector is growing following the recent measures by the government. As a result, it becomes difficult to cover all fertilizer demand through import. Ethiopia requires 24 million quintals of fertilizer annually and imports 150,000 quintals daily to meet this demand.

Hence, following the successful completion of the giant power plant, GERD, Ethiopia’s upcoming major project is establishing a local fertilizer factory. Efforts are underway to commence local fertilizer factories either through joint ventures, by the private sector, or by government investment.

Establishing a local fertilizer company is Ethiopia’s next mega project, like that of GERD.

 Nation creates three million jobs in eight months

Ethiopia has generated over three million job opportunities during the past eight months of this fiscal year. Of these created jobs, 2.8 million were created domestically while over 300,000 were created abroad. Similarly, more than 45,000 Ethiopians secure remote positions for foreign firms.

Agriculture creates 40% of the opportunities, while industry creates 20% and service sector 38%.

 Ethiopia generates 4.5 billion USD from export

Ethiopia’s export revenue has shown significant development during the past eight months, surpassing the annual export earnings of any previous year.

Ethiopia has secured 4.5 billion USD from exports in the last eight months, a landmark achievement in the nation’s export history. This is the outcome of the nation’s remarkable economic progress.

Earnings from coffee exports surpass 1.2 billion USD during the eight months.

If we maintain this momentum for the next four months, we will achieve the highest export revenue in Ethiopia’s history which is closer to our target in the ambitious 10-year plan.

THE ETHIOPIAN HERALD SATURDAY 22 MARCH 2025