Nation Taking Measures to Correct Macro-economic Imbalances: Deputy PM Demeke

Addis Ababa ENA August 28/2019 The Government of Ethiopia has been taking measures and critical adjustments on macro-economic imbalances in order to protect the country’s economy from crisis, Deputy Prime Minister Demeke Mekonen said.

Opening the Home Grown Economic Reform Forum today, the deputy premier said since last year the government has embarked on economic, social and political reforms at macro level.

Appreciating the double digit economic growth in the country over the past 15 years, Demeke  underlined that macro-economic imbalance which hindered the nation from generating sufficient finance has been witnessed.

Following this gap, Ethiopia has been undertaking diverse measures to correct the imbalance, he stated.  

Accordingly, the government has prepared a Home Grown Reform Document that would enable the country to uphold the previous achievements and solve the current challenges on economy, he indicated.

He called on all the stakeholders to contribute their share for reform activities that would make the economy sustainable and stable.

The meeting has brought about high level government officials, economists, competing political parties and among others.   

Macro-economy imbalance is largely manifested by imbalance between revenue and expenditure and a serious imbalance in the foreign trade sector.

This arises due to mainly huge public investment, which is the major drive for the Horn of Africa’s nation fast economic growth, low level of export performance and weak private engagement.