BY LAKACHEW ATINAFU
Maintaining monetary and fiscal policy are the foremost duties of sovereign nations and the pillars of governance in modern democracy where the demos agrees along with ensuring law and order. The interest of different elements and fundamental changes of circumstance demands nations across the globe to put in place strategic input and sound foreign policy pursuant to mutual benefit.
The ill wind numerously defined to trace its inception might not be counter production for Ethiopia to avert age long complications; it would rather advisable to focus on being on the upstairs of economic development against all odds.
Apart from commencing mega projects and clairvoyant views incepted among leaders, chronology ushered in the country certain elements were not an able to refrain from being hell raisers. Economics is vital component for humans’ life and livelihoods and it is a question of existence for Ethiopia and other nations. Without economics there is no survival.
Where we are today? Where are we going? And what is to be done are question that matters so as to find clues to address much complications we are encountering at this concurrent.
These grand people and country which ought to be respected has frequently to be seen threatened and humiliated. Both nature and human are determined to threaten Ethiopia. Ethiopia has never attacked other countries instead intended itself to help and give hands at times of emergencies. Believing that the world should adhere to the principle of justice Ethiopia developed a culture of submitting complaints to the international council.
All over, Ethiopia must foster strategic partnership and take advantages of multi-polarism. From a diplomatic point of view, a strategic partnership entails an exceptionally close relationship between countries or other entities that are vital to promoting each other’s strategic interests. Strategic partnerships are mostly created with highly valued partners, which are carefully selected based on a realistic assessment of the significance of the partnership to the long-term interests of the nation concerned.
Before to tracing where our economy gauges, essential it could be what we want from our economy. Beyond producing self sufficient amount our development has to focusing on sustaining the country and handing over better country for the posterity.
Most notably, what is demanded from the economy is the betterment of the public and consolidation of the country. To change the general objective into practice paving the way for individuals who want eat bread upon their sweat is a must. In precise terms there is a need to undergo institutional reform to create enabling environment for visionary citizens.
Second citizens have to take advantage of systems and able to score sustainable development and third the new wealth reaped from such the new system has to be fairly distributed and price of product stabilized. Finally, the other pillar of the economy is the establishment of partnership in foreign policy without violating national sovereignty.
However, the economy could provide such benefits, over the past 40 years, it was in vain to achieve so even it was difficult to be self-sufficient in producing food items and basic needs.
Such failure has been accelerating inflation. What is worse would be the inflation rate in food related area is more escalated compared to non-food items albeit it is a paradox.
To fill the gap the country has to made procurement from oversea market. Yet there are short comings in affording foreign currency and incumbent upon loans from abroad. As a result the mirrored reflection of Ethiopia seems to be a country unable to rescue itself and the citizenry from begging. What is left for an Ethiopian is good psychological makeup and proud despite all odes.
There is the problem somewhere so that to put lasting solution identifying the source is important. There is abundant water, arable land and workaholic farmers along with universities producing agriculture professionals. The question that matters is why we are starved and why inputs and mechanizations and implementation failed to modernize the farmers? Why the industry sector is crawling while the country is part of the wisdom world?
The government would make all necessary efforts in this Fiscal Year to solve the conflict in the northern part of the country and to create a peaceful country, so said President Sahlework Zewde.
The President made the above remark when addressing the opening ceremony of the second year’s first joint opening session of the House of Peoples’ Representatives and the House of Federation.
Meanwhile, President Sahlework noted that Ethiopia has been working to strengthen its relationship with the countries in the region by considering that there are many things that interlink these countries.
Ethiopia’s main challenges are continuing its positive economic development on a sustainable basis and accelerating poverty reduction which both requires significant progress in job creation, as well as improved governance, to ensure that growth is equitable across society.
In her opening speech, Sahlework stated that all necessary efforts will be made to end the war in the northern part of the country by implementing all peace alternatives. She pointed out that the government will respond to the belligerence of the terrorist TPLF that rejects the peace alternatives.
According to her, the biggest step that the government has taken in the past years is to resolve differences through peaceful dialogue in order to end the mass killings and conflicts in some parts of the country.
She added that the government will never close the doors of peace, and still calls for peace talks by making all peace alternatives open. Sahlework restated that the cooperation of all is expected to make successful the proposed peace talks assisted by the African Union.
Regarding diplomatic activities, the President stated that various remarkable activities have been carried out continentally and regionally within the past Fiscal Year. Sahlework further noted that Ethiopia has been working to consolidate its relations with neighboring countries by realizing that it has interconnected with these countries by infrastructure, trade, culture, language, natural resources, geography, and religion.
According to her, Ethiopia’s diplomatic activities allowed neighboring countries to work together for their common benefit. The Grand Ethiopian Renaissance Dam (GERD) will also enable Egypt and Sudan to get electricity at a reasonable price, she said adding, that Djibouti has already been getting electricity from Ethiopia, and efforts will be made for Kenya, Sudan, and South Sudan to get electricity.
“The construction of the dam will be completed in accordance with the scheduled time, and we will continue to conduct the necessary discussions and negotiations by examining any questions that may arise regarding the dam from the point of view of the benefit of Ethiopia,” the President also indicated.
By understanding the current situation of international diplomacy, the government will work in coordination with friendly countries in a way that secures the long-term interests of Ethiopia, according to Sahlework. Regarding the main focus of the government in the 2015 Ethiopian Fiscal Year, she said that the government will continue the successes recorded in the last Fiscal Year and correct the shortcomings.
She added that the government will make efforts to improve tax revenue, reduce the waste of resources, use the government budget for poverty alleviation, stabilize inflation, and maintain a healthy macro-economy.
She further pointed out that the government will work hard to attract potential investors by doing various promotional activities to promote Ethiopia as an investment destination.
In-depth and action-oriented works will be done in the field of good governance and appropriate adjustments will be made by identifying the source of the problem, she also stated. The President added that the government’s other focus area is putting the institutions that were destroyed due to war into full operation.
“This Ethiopian Fiscal Year will be a time when we will be highly motivated to solve the social and economic problems that Ethiopians are facing by settling disputes through dialogue, making the National Dialogue successful, and completing the ongoing development projects,” she indicated.
The government Of Ethiopia is going above and beyond to strengthen the capacity of the private sector and also to attract foreign direct investment (FDI) to support development.
It is doing that by providing different incentives. There’s a promotional effort to attract investments, depending on the sectors they think are catalytic to growth. The government is planning to invest heavily on industrial zones across the country that will house textile, leather, agro-processing and other labor-intensive factories. The hospitality industry is also another one they are eager to attract investments.
At this very current the government and warring parties must urged to shift their face to the development sector according to high authorities. For over two decades, Ethiopia’s foreign policy has been centered on economic diplomacy, at the core of which is attracting Foreign Direct Investment (FDI).
Diplomats have been tasked to promote investment opportunities, incentives, laws, rules, and regulations and recruit investors in the priority sectors identified by the Government. Therefore, as part of its annual plan, each diplomatic Mission takes the assignment of recruiting a specific number of investors, based on which the annual performance of the Mission and the individual diplomats is evaluated. At the end putting the clock of peace back to Ethiopia is emphasized as a pre prioritized matter all should yearn for.
The Ethiopian Herald October 13/2022
