Ministers Stress Need for Capitalizing Achievements in Macroeconomic Gains

Addis Ababa February 1/2023/ENA/ Priority will be given to further improve the macroeconomic achievements registered in the remaining six months of the Ethiopian fiscal year, ministers said.

The six-month performance evaluation of the budget year was held in the presence of Prime Minister Abiy Ahmed in Halala Kella, which is part of the Dine for Nation project.

Evaluation of the stated period indicates that Ethiopia’s economy will grow by 7.5 percent.

Agriculture, industry and the domestic revenue sectors have registered better performances during the period.

During the past six months, the agriculture sector registered 6.7 percent growth, and the manufacturing sector 8.2 percent despite all the challenges.

According to the six-month report presented to the ministerial council, 222 billion Birr was collected from tax and non-tax sources.

Finance Minister Ahmed Shide said the performance of the past six months demonstrated that Ethiopia’s economy has continued to grow despite all the challenges the country faced.

Stating that better activities have been carried out in improving the domestic resource mobilization and attracting investment, the minister noted that inflation is still impacting negatively on the growth of the macro economy.

Planning and Development Minister, Fitsum Assefa said on her part that the activities carried out in the past years to withstand all the pressures and challenges and improve the Ethiopian economy have stated bearing fruits.

The agriculture and the manufacturing sectors are manifestations of the stated success, she added.

Revenues Minister, Aynalem Nigussie said domestic revenue has registered 28.9 percent growth during the past six months as the overall performance against the plan was 97 percent.

Noting that contraband and illegal trade are still the major challenges of the sector, she stated that attention would be given to alleviate the problem.

According to her, priorities will also be given to reduce Ethiopia’s debt burden and improve export trade.