Ethiopia’s Economy Projected to Grow at 9.2% in FY 2018/19

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Addis Ababa July 1/2019 Ethiopia’s economic growth is projected to be 9.2 percent for 2011 Ethiopian fiscal year (2018/19), with a growth rate of 1.5 percent from the previous year, Prime Minister Abiy Ahmed said.

Prime Minister Abiy today presented Ethiopian Fiscal Year 2011 annual report to the House of Peoples’ Representatives (HPR).

In his report to the HPR, the Prime Minister paid a special emphasis on sustaining peace and security, democracy, economic development and diplomacy issues. MPs raised queries and the premier responded to their questions.

During the 8th extraordinary session of the House, the Prime Minister said Ethiopia’s economy is expected to grow by 9.2 percent for the 2018/19 fiscal year

Domestic demand and supply is also estimated to remain robust, supported by the recent reform policies to boost economic growth, he stated.

According to the Premier, some 1.4 million job opportunities were created in the preceding fiscal year.

The Prime Minister in his report stated that efforts have been undertaken to widen up the political space, rehabilitate internally displaced communities and ensure the rule of law across the country.

He reported that there were 2.3 million IDPs in the country, of which about 1.1 million were displaced during the reform period and 400,000 by climate change, but over 2.1 have been repatriated and rehabilitated.

As a means of widening the democratic space, more than 10 exiled armed groups were welcomed home, over 45,000 benefited from amnesty, more than 100 thousand prisoners released from all regional states, above 260 media and web sites were allowed to function and rejoin the free market, the Prime Minister noted.

Regarding diplomacy, more than 15,000 citizens were released from prisons abroad and over 76,000 citizens with terminated contracts were repatriated.

According to Abiy, institutional reforms focusing among other institutions on defense forces, Supreme Court, National Electoral Board of Ethiopia (NEBE), Human Rights Commission, Information Network Security Agency (INSA), National Intelligence and Security Service (NISS), federal police and prison administration were reorganized in the spirit of the national reform.

About 17 proclamations and laws are reportedly either under revision or revised, it was learned.

Some 48 suspected of terrorism, 799 instigating ethnic conflict, 34 engaged in economic crime, 235 for trafficking in firearms, 63money laundering and 51 human traffickers were apprehended, he expounded.

Prime Minister Abiy explained that his government will work focusing on sustaining peace and security, building democratic institutions, modernizing agriculture, environmental protection, and tourism development and encourage private sector engagement over the next fiscal year.