PM Encouraged by Achievements in Economic Sector During Past Three Years

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May 7/2021(ENA)  Encouraging achievements have been registered over the past three years in fiscal policy, state-owned enterprise reforms and the financial sector as part of Ethiopia’s vision to prosperity, Prime Minister Abiy Ahmed said.

According to the premier, over 200 billion Birr was invested on capital investments, which is a 27 percent increase from capital investments since 2018.

The country’s tax revenue has increased by 36 percent from 229 billion Birr to 311 billion Birr between 2018 and 2020, he added.

External resource has also increased by 34 percent from 3.5 billion USD to 4.7 billion USD between 2018 and 2020, Abiy pointed out on his Facebook page.

He further stated that close to 300 billion Birr investment in pro-poor spending, including in education, health, water and sanitation as well as roads and agriculture in 2020, that is 35 percent increase from 2018.

Telecom sector liberalization is also underway to improve access, reliability and efficiency of telecom services to boost economic competitiveness and innovation, the PM added.

Export revenue increased by 12 percent, after close to a decade of stagnant performance, he noted, adding that deposit mobilization increased by 42.6 percent, reaching a deposit of over a trillion Birr.

The private sector’s credit share increased from less than half (44 percent) in 2018 to 64 percent of total credits in the economy by 2020, showing the sector’s improved access to finance and economic opportunities.