Prime Minister Abiy Ahmed (PhD) presented the federal government’s performance report of the 2023/24 budget year and responded to queries raised by members of the parliament at the 36th regular session of the House of People’s Representatives (HoPR) on Thursday.
While responding to the questions of the MPs, PM Abiy stated that Ethiopia has registered remarkable achievements in macro-economic development despite local, regional and global challenging situations
Ethiopia’s GDP exceeds 205 billion USD: PM Abiy
Ethiopia’s gross domestic product (GDP) has doubled in the last five years. When we took office in 2018, Ethiopia’s gross domestic product (GDP) was 86 billion US dollars, but it reached 205 billion US dollars today.
Currently, Ethiopia’s GDP is bigger than that of the six neighboring countries combined. During the 2023/24 fiscal year, Ethiopia earned more than 10 billion USD from exports of products and services.
Ethiopia’s financial sector become healthy, stable
Ethiopia’s financial sector has been showing encouraging stability with a healthy growth trajectory, urging domestic banks to build their competitiveness. Measures being taken by the government to curb the macro-economic challenges of the country have been bearing fruits.
One of the positive achievements is the stability being observed in the finance sector as per international indicators. According to the premier, Ethiopia’s bad debts account for 4.5 percent against the global rate, which stands at 5 percent. The banking sector is also witnessed displaying sustainable growth.
Industry Sector shows remarkable development
The industrial sector has been registering remarkable results in the just ending Ethiopian Fiscal Year. This year the most successful sector was the industry sector.
The sector is expected to grow by 10.1 percent.
Ethiopia builds 30,000 new preschools
Ethiopia has built more than 30,000 preschools during the past six years. In addition, school feeding service has been provided to the school children in these schools.
The government gives due attention to ensure the quality of education from the lower level of education. To improve education quality, Ethiopia has built 30,000 new preschools and provided school meals.
The focus of the government is ensuring quality education.
Ethiopia cherish win-win diplomacy
Ethiopia gives due priority for a win-win diplomacy. We promote mutual growth and cooperation in our diplomacy. Ethiopia never exploited its neighbors’ situations for its own advantage.
Though Sudan has been unable to pay bills for the electric power it used from Ethiopia, Ethiopia did not cut the electricity supply since we value brotherhood with our neighbors. We cannot abandon our brothers during this difficult time.
Ethiopia is a great country and a good partner of its neighbors. Ethiopia always aspires to keep its diplomacy on a win-win base.
THE ETHIOPIAN HERALD SATURDAY 6 JULY 2024
