ADDIS ABABA – Ethiopia’s ongoing macro-economic reform agenda is delivering measurable results across several sectors, while opening new avenues for private sector engagement, according to top government officials at a high-level finance forum held yesterday.
The forum, jointly organized by the Ministry of Finance (MoF), the National Bank of Ethiopia (NBE), and the Ministry of Planning and Development (MoPD), took place at the Commercial Bank of Ethiopia (CBE) headquarters. It brought together policymakers, financial institutions, and private sector leaders to assess the impact of economic reforms and chart a path forward.
Finance Minister Ahmed Shide emphasized that the reforms have helped drive sustainable and inclusive growth by stabilizing the economy and expanding financial services. “This is the first time the government has closed its budget gap without borrowing from the central bank ,a milestone in our fiscal discipline,” he said.
He added that the reforms have contributed to increased foreign currency reserves, reduced inflation, and broader financial access. “The financial sector is the backbone of our economy,” Ahmed said, underlining the sector’s role in facilitating credit and foreign exchange services while fostering inclusive development.
The reforms, he noted, are already showing results in key areas such as agriculture, tourism, mining, manufacturing, and services. Beyond economic performance, the reforms are also helping shape Ethiopia’s regional integration and socio-political transformation, he added.
National Bank of Ethiopia (NBE) Governor Mamo Mihretu echoed these sentiments, stressing that macroeconomic reform has helped stabilize the foreign exchange market and support overall economic growth.
He revealed that Ethiopia’s foreign currency earnings grew from USD 24.7 billion last year to USD 32.1 billion this year, with USD 8.3 billion generated from foreign trade alone—a sign of the reforms’ tangible impact.
Mamo also highlighted the importance of private sector participation in driving reform outcomes. “Public-private dialogue is essential in shaping macroeconomic and fiscal policies that align with our development goals,” he said, noting that platforms like the Ethiopian Finance Forum (EFF) foster critical dialogue and cooperation.
The forum also featured discussions on financial sector liberalization, investment opportunities, and public service reforms -areas viewed as essential to unlocking Ethiopia’s economic potential.
Participants, including senior government officials, banking executives and business leaders, called for enhanced coordination and continued reform momentum to ensure long-term economic stability and inclusive growth.
BY MESERET BEHAILU
THE ETHIOPIAN HERALD WEDNESDAY 23 JULY 2025
