Ethiopia's Economic Milestones: PM Abiy Ahmed's Parliament Address

Economic Update: PM Abiy Ahmed Addresses Parliament

Prime Minister Abiy Ahmed delivered a comprehensive update to parliament today, focusing on crucial economic and social indicators that underscore Ethiopia's recent developments. In his address, Prime Minister Abiy highlighted significant milestones across various sectors.

National Debt and Economic Stability

One of the central points of the Prime Minister's address was the reduction of Ethiopia's national debt burden to 17.5% of GDP. This achievement marks a substantial improvement in the country's fiscal health, indicating prudent financial management and strategic economic policies aimed at sustainable growth.

Prime Minister Abiy also emphasized the remarkable growth in Ethiopia's agricultural sector. Specifically, he reported a surplus production of 100 million quintals. This surplus not only boosts food security but also contributes to the overall economic stability by reducing dependency on imports and stimulating rural economies.

In terms of fiscal performance, the Prime Minister disclosed that Ethiopia had collected 466 billion Ethiopian Birr (ETB) in revenue over an 11-month period. This revenue collection represents approximately 7% of the GDP, highlighting a robust effort in mobilizing resources to fund development initiatives and public services.

Broader Economic and Social Context

These economic statistics were part of a broader update on Ethiopia's economic and social landscape. Prime Minister Abiy's presentation provided lawmakers with a comprehensive overview of the country's progress, challenges, and strategic priorities moving forward.

Prime Minister Abiy Ahmed's address to parliament underscores Ethiopia's commitment to economic stability, growth, and sustainable development. The achievements highlighted, such as the reduction in national debt, agricultural surplus, and substantial revenue collection, reflect concerted efforts to navigate challenges and capitalize on opportunities in the evolving global and domestic economic environment.

As Ethiopia continues on its developmental path, the government's focus on fiscal discipline, sectoral growth, and revenue mobilization will be critical in achieving long-term prosperity and enhancing the well-being of its citizens.

This update sets a foundation for ongoing dialogue and action to further strengthen Ethiopia's economic resilience and ensure inclusive growth across all sectors of society.

Original article:

In Numbers: PM Abiy Ahmed in Parliament

In his response to economic and social issues, Prime Minister Abiy Ahmed presented key economic data to parliament today.

The Prime Minister reported that the national debt burden has been reduced to 17.5% of GDP. He also noted significant growth in the agricultural sector, with a surplus production of 100 million quintals.

These figures were part of a broader update on the country's economic and social developments provided to lawmakers. Additionally, the Prime Minister stated that 466 billion ETB in revenue was collected over 11 months, representing 7% of the GDP.

https://www.facebook.com/AddisstandardEng