BY DANIEL ALEMAYEHU
In this long and full of hardship period, Ethiopia has been going through a number of challenges and achievements. Needless to say, the nation is under a serious of problems in the past few years. The most destructing war between the current occupant and the terrorist TPLF made things hard for the people and government of Ethiopia.
In the 2014 fiscal year, Ethiopia has registered plenty milestones in the economic sector though the road to success was hard to explain. Pressures from inside and outside made things seem untouchable and created a skewed perception in the minds of citizens and other opposing parties. With all these odds, the people and the government of Ethiopia jointly scored tangible economic targets in the year that is about to end.
Though the government is fighting with numerous parties, it has not stopped achieving its economic goals. It is not only the problem within the country that made things hard and unachievable, rather other issues around the world indeed affects the steps that the government could take. For instance, the war between Ukraine and Russia creates a hardship on the people of the world as these countries are top suppliers of agricultural products.
It is in 2014, when the Prime Minister Abiy Ahmed (PhD) commenced the second unit power generation of the Abay Dam. The Premier noted that the nation has seen the light despite the challenges. He said: “We have translated what was thought by our fathers/mothers and forefathers/mothers through making the unthinkable possible and overcoming self-limiting beliefs.” It was reported that the third water reservoir filling has taken place in the current year
It was also the year when the Prime Minister Abiy Ahmed (PhD) announced that the country has planted over 25 billion seedlings in order to promote green legacy initiative by fostering a ‘green culture’. As to the Premier, the initiative was announced in 2019 eyeing up tackling climate changes. It was planned to plant 20 billion seedlings in four- year period.
The premier said, “Each year, as we surpassed the annual target and together with the final year of the four-year challenge, Ethiopia has planted 25 billion seedlings of agroforestry, forestry, ornamental varieties, surpassing the set target.”
It was 2014 when the Ethiopian Diasporas have contributed much in terms of foreign currency. Based on the report from the Ethiopian Diaspora Agency (EDA), the amount of foreign currency sent to the country has touched 3.3 billion USD. It was also reported that 5,965 Ethiopian Diaspora has opened foreign currency accounts and deposited over five million USD. Not only have that, around 1,489 Diasporas with the total capital of 97 billion Birr secured their investment licenses in the current year.
It is similarly reported from Ethiopian Investment Commission (EIC) that Foreign Direct Investment (FDI) of Ethiopia has shown remarkable progress despite the pandemic and security concerns. The nation attracted 3 billion USD from FDI as the plan was to generate 3.6 billion USD. It was reported that China, India, Turkye, and the United Arab Emirates were the top investors in Ethiopia. It is important to remember that it was the year when Ethiopia has expelled from AGOA.
In the 2014 Ethiopian fiscal year, the government has put success milestones in a number of sectors. Ethiopia has secured millions of dollars from export industry. In the current year, the Ministry of Agriculture announced that the nation has generated 119 million USD by exporting meat and meat by- products. The country exported about 22,700 tons of meat and meat by- products. From the Ministry’s report, the figure has showed 40% increase from its revenue with the same period last year. Ethiopia has also secured 499 million USD from exporting horticulture products which surpassed the last year’s performance by 15.3%.
According to the report from the Ethiopian Coffee and Tea Authority, the nation has secured over 1.4 billion USD from the products exported in the year 2014. The success is registered by applying modern technologies and shortening the coffee trade chain. To this regard, 1500 farmers have been issued export licenses. The amount of income farmers earn from the entire trade was only 40%; this time it has mounted to 92%.
Further, this year, the summer season irrigation wheat production made Ethiopia save over one billion USD, Minister of Agriculture, Oumer Hussien disclosed. One billion USD worth of wheat has been substituted by domestic production applying summer wheat irrigation program.
Likewise, according to the Ministry of Industry, Ethiopia has got 418 million USD from exporting industrial products in the course of ten months in the current fiscal year. It was also reported that the country could save 1.9 billion USD from import substitution. The aforementioned figure was 84% of the targeted goal, Melaku Alebel, Minister of Industry, said while he was presenting sector’s 10 month’s performance. Besides, from the total revenue, 153 million USD was generated from apparel and textile exports.
One of the prominent figures Ethiopia registered is its success in airlines. This year, the Ethiopian Airlines announced that the company generated 937 million USD net profits. This was achieved when the world is experiencing worst global economic situations. African leading airlines has also obtained 5 billion USD revenues which has 79% of increment from last year. According to Ethiopian Investment Holdings CEO, Mamo Mihretu, this achievement was registered without job losses and significant cancelations. The Ethiopian Airlines has also given service to transport 7,700 tons of commodities to different parts of the world.
On the other report, the Ethiopian Airlines Group CEO, Mesfin Tasew announced that the company has ordered five more B777 freighters into airliner cargo. The CEO said, “While cementing our partnership with the Boeing Company with new orders, the growth of our freighter fleet takes the capacity and efficiency of our shipment service to the next level.”
In addition, the Ethiopian Electric Utility (EEU) has also announced it has collected around 21 billion Birr from electric energy sales and secured over 26 billion Birr revenue in the past 2014 fiscal year. It was also reported that due to the conflict in the northern part of the country, the terrorist TPLF has destroyed and stolen electric infrastructures worth 1.2 billion Birr during the group’s escalation of war to Amhara and Afar regions. It was reported that Ethiopia has secured 95 million USD from exporting power to neighboring countries including Djibouti and Sudan in 2014. The Ethiopian Electric Utility exported 611 GW to Djibouti and 1093 GW to Sudan.
In the similar story, Ethio- Telecom announced that it has collected a total of 61.3 billion Birr in revenue in 2014. The company’s CEO, Frehiwot Tamiru disclosed that Ethio- Telecom has generated the above mentioned amount of money which is 87.6% of the target and has 8.5% increment on the last year’s performance. It was also reported that the company obtained around 146.6 million USD in foreign currency and achieved 82.3% of its target.
It was also reported that the country has got over 458 million USD from the mining sector in 2014 mainly from gold, jewelry, and industrial minerals. For the first time, an American company has confirmed that it has found 7 trillion cubic feet of gas in Ogaden, Ethiopia.
Regarding infrastructures, Addis Ababa City Administration has been constructing road and a number of mega projects. It was reported that the City Administration has inaugurated the first modern road project from Sarbet- Alexander Pushkin Square- Gofa Mazoria to Gotera.
In relation to technology, the Ministry of Transport and Logistics launched free one month electric- based transportation service in the capital with 60 electric vehicles assisted by 40 charging stations. It is believed that the service provides comfortable, efficient, modern, and reliable transportation in the country, Minister of Transport, Dagmawit Moges said. In addition, Green Tech Africa announced that it will start assembling electric vehicles in Sendafa and Dire Dawa.
Moreover, as it was planned, Prime Minister Abiy Ahmed (PhD) opened Free Trade Zone (FTZ) in Dire Dawa aiming to boost African integration. It is also believed that the FTZ will improve the nation’s economy by boosting import and export trade.
All in all, the above mentioned achievements are taken as example to show some of the economic achievements in the country. Though the nation is under multiple pressures, the people and government of Ethiopia commit themselves to stand in solidarity and work for the nation’s development.
The Ethiopian Herald September 11/2022
