A strong coffee was being poured when a friend of mine interrupted my idea stating ‘Ethiopia can economically, socially and even politically surpass the best-named nations in the world if we work hard through an intertwined spirit and state of fraternity.’ How on earth an aid-dependent nation excels economically well-muscled nations? He attempted to disprove my proposition.
Having finished pouring the two cups of coffee, a waitress at a small coffee house interfered and said, “It is we ourselves who are responsible for every mess as we have been belittling what we have had at hand and so has our country.Besides, we have been developing rivalry, resentment and grudge among/between citizens, ourselves in this sense. The best thing I think is we have to ‘let bygones be bygones—it is time for rising Ethiopia. Ethiopia lacks nothing but evenhanded leaders and citizens working for a better change coming out of the narrow box. Let alone outshining other developed nations, Ethiopia will take the lead if we all, citizens across the nation, are committed enough to appreciate what our country owns and expedite its potential to grow well. What matters is hard work and collaboration in all aspects.”
Frankly speaking, my friend and I were very much surprised hearing such an appealing expression from whom we have undermined as the girl, according to our philosophy, could hardly analyze things as such except pouring the coffee and tea there and serving those who have come to the coffee house.
What a coincidence it was! When we, my friend and I and the girl, were talking about the paradoxical scenario in which Ethiopia is found, rich in various natural resources but labeled as a poor nation in Africa. Prime Minister Abiy Ahmed (PhD) talked about the well-to-do status of the country citing Arba-Minch a case in point. He said that Arba Minch is a sought after destination endowed with various types of fruits, bird life, mountains, fresh water bodies, among others, providing every onlooker with mesmerizing feeling and greater pride about their country.
He said, “Despite bringing great hope, the place also evokes regret in that we have done little work to develop it fully until now. The Dine for Generation project includes a timeshare component for Ethiopians, both locally and in the Diaspora, to invest in and engross in this paradise.”
Yes, Ethiopia is a land of ecstasy and abundant wealth, but citizens have not yet been well aware of their country’s gracious gift and its untapped resources here and there to help the nation declare economic independence, peace and security, political stability and freedom.
Besides, poverty reduction and sustainable development are central to the budget plan, whose lion’s share of the source is expected to come from tax collection. Basically, a number of factors can be prettily cited as prime drivers of economic development in Ethiopia thereby leading the nation to the right track of development and prosperity.
In the first place, promoting homegrown economy comes at the forefront. Home grown economy includes effectively utilizing natural resources, expanding local arable land, making the agriculture sector mechanized and reinvigorating public private partnership as the private sector has been contributing a lot to the effort geared towards national development and growth.
Reforming working culture has taken the second grade. All citizens have to effectively discharge respective responsibilities thereby helping the nation hit the set target regarding social, economic as well as political trajectories.
Next, well framing foreign policy has to revolve around keeping the national interest of the nation. Highlighting the federal government performance report of the 2016 E.C fiscal year at the 36th regular session of the House of People’s Representatives recently, Abiy emphasized that Ethiopia’s foreign policy is centered on fostering mutual development and prosperity with neighboring countries. Speaking on Ethiopian government’s pursuit of access to the sea port, he also emphasized Ethiopia’s primary need for access to the sea to support its economic growth.Ethiopia always seeks to work together, develop together and prosper together with neighboring countries so that economic growth, peace and stability can be achieved through regional cooperation.
Unequivocally, the marriage between hard work and individual or group change or national progressthrough economic growth is attested highly intertwined and smartly interwoven national factors. Yes, economic growth refers to an increase in aggregate production in an economy, which generally manifests as a rise in national income. Aggregate gains in production could potentially lead to an increase in incomes, inspiring consumers to open up their wallets and buy more and driving a higher material quality of life and standard of living.Thirdly, the method of producing economic growth is through technological improvements.
Improved technology allows workers to produce more output with the same stock of capital goods by combining them in novel ways that are more productive. Economic growth is a precondition for the improvement of living standards and lifetime possibilities for the average citizen of the developing nations like ours. It is in this viable way the threat the girl whom we were talking to can be well addressed.
Fourth, embarking on human capital at national level is crucial. The youth in Ethiopia have to move in unison to prettily change the nation. In economics, of course, growth is commonly modeled as a function of physical capital, human capital, labor force, and technology. Increasing the quantity or quality of the working-age population, the tools that they have to work with, and the recipes that they have available to combine labor, capital, and raw materials will undoubtedly lead to increased economic output.
Economic growth is an increase in the production of economic goods and services in one period of time compared with a previous period. It can be measured in nominal or real terms.
The ongoing corridor development, which is aimed at uplifting the image of the cities by meeting international smart city standards, would also be instrumental inmaking the nation, at a larger scale, competent with counterpart nations of the planet. The Green Legacy Initiative, the emerging manufacturing capability and import substitution as well as development endeavors in wheat productivity and the country’s ambition to become a leading wheat producer would contribute a lot to the economic advancement of the nation combined.
Although growth has remained strong, largely driven by public investment, the private sector stayed small and is left with a long path to trek. As the government, the largest employer, is marred by inefficiency, wasteful patronage and deep-seated capability problems, a number of lucrative means have to be devised to make a difference in all aspects.
Without a shadow of doubt, factors hindering the economy include inefficient economic governance, excessive regulation, an unsophisticated financial sector, rural land shortages, inflexible labor markets, lackluster urban development strategies, and a largely stagnant industrial sector should be well met to bring about real change inall aspects. Singing about fictitious rivalry and sorting out minor differences to get clashed, entertaining confrontation instead of unity and cooperation excellently lead nowhere. The outcomes thus are deepening poverty, growing inequality, eroded purchasing power, mass unemployment, and corruption. The most preferable thing here is pronouncing the saying ‘Let Bygones Be Bygones,’ unite for rising Ethiopia if we are to create a prosperous and new great nation—Ethiopia.
Fourth, the Grand Abbay Dam, last but not least, is of paramount importance in boosting Ethiopia’s economic growth as not only will it power Ethiopia’s economy, but it will also power Africa’s Economic Integration. It is Ethiopian’s brain child commenced targeting at pushing the country’s economy steps forward. Interestingly, the dam’s reservoir has created about 70 islands that are about 10 hectares wide, on average. It is a blessing Ethiopia shares with the rest of the world, indeed!
Ethiopia is now realizing its potential and capacity by harnessing its natural resources and becoming an economic, political and social powerhouse of Africa. The nation has embarked on a comprehensive reform process since five years ago in order to enforce itsupward trajectory and achieve even more rapid and sustainable growth.Being committed to opening up the economy to a range of investors, foreign ones perhaps, in telecom, energy, aviation, railways, among others.
Setting aside all minor differences, purposely orchestrated means to widen gaps among/between citizens, all citizens have to work hard thereby helping the nations and its citizens foster real change by firmly entertaining the ideology of ‘Let Bygones Be Bygones,’ instead of singing lyrics of resentment and fabricated enmity by ensuring peace and security for a stable and prosperous Ethiopia!! For how long Ethiopia and Ethiopians lead life being intimidated by aid providers’ swords!
BYMENGESHA AMARE
The Ethiopian herald July 14/2024
