- New gov’t prioritizes curbing inflation, stabilizing market
ADDIS ABABA – Ethiopia’s foreign relations will give the ultimate priority to the neighboring states that the country shares borders and communities and the relations will be centered on mutual benefit and brotherhood, President Sahlework Zewde said.
Addressing the joint session of the House of Peoples’ Representatives and the House of Federation yesterday, President Sahlework stated that Ethiopia recognizes the importance of utilizing the strong cultural and linguistic ties with neighboring states to ensure mutual development. Accordingly, Ethiopia’s current foreign policy prioritizes relations with neighboring countries.
“Utilization of cross border resources will be implemented in a manner that takes into account the principles of cooperation and mutual benefit.”
The president also noted that people-to-people forums would be established to create all-inclusive cooperation and connection among peoples of the Horn of Africa. By the same token, a strategy that would help strengthen Ethiopia’s relations with neighboring countries and bring sustainable peace, social interaction, economic integration and common prosperity would be developed.
As to her, discussion and consultation forums that would include all Nile riparian countries need to be conducted with a view to facilitating the comprehensive agreement in the utilization of water.
“The construction of the Grand Ethiopian Renaissance Dam (GERD) has been executed carefully, responsibly and without interruption” Sahlework said, adding the dam would be an engine to Ethiopia’s industrialization and would not harm the water shares of Nile lower riparian countries.
The president pointed out that Ethiopia is expected to make viable steps to ensure its benefits from the fierce competition of global actors to control the strategic Horn of Africa region and the Red Sea, Bab-el-Mandeb, and the Gulf of Aden. In collaboration with neighboring countries and organizations in the Horn, the Ethiopian government will aggressively strive to protect its national interest in the region.
“Ethiopia’s foreign policy centers on protecting our sovereignty and national interests and keeping the country’s territorial integrity.” Ethiopians have a proud history of fending off invaders and they have paid noble sacrifice to independence thereby making the country a symbol of freedom for fellow Africans.
“We Ethiopians have not and will never negotiate with anyone in our sovereignty and national pride.”
Meanwhile, Sahlework indicated checking the soaring inflation and stabilizing the market is the priority of the new government in that consolidated efforts are underway to modernize and transform the rain-fed agriculture and easing the imbalance between demand and supply of goods. Adjusting the malicious trade system, the major factor for hiking the price of goods and keeping macroeconomic stability are also areas the newly-formed cabinet will address.
The president highlighted in her remark that policy intervention is made to curb the staggering inflation and easing the upsurge of cost of living, which primarily affect the lives of low-income communities.
“Amidst of natural and human-made challenges, the reform government has done remarkable jobs through introducing viable economic reforms during the past three years and the home-grown economic policy has brought significant outcomes. However, the cost of living and unemployment remain unresolved and require a meticulous approach.”
About domestic earnings, she pointed out that plan is set to collect over 600.9 billion Birr in the current fiscal year whilst the majority of the sum is expected to be generated from tax. Also, the country envisages generating 5.25 billion USD from the export market in the reported period.
BY ABDUREZAK MOHAMMED & MESERET BEHAILU
THE ETHIOPIAN HERALD OCTOBER 5/2021
