Gov’t Committed to Bring Inflation Down to Single Digits: PM Abiy

Addis Ababa October 31/2024 (ENA)-Prime Minister Abiy Ahmed said that the government's top priority over the coming years is to reduce inflation to single digits.  

In his response to the questions raised by members of the House of Peopls Representatives regarding the cost of living, the Prime Minister said that inflation is testing many countries of the world, including Ethiopia.

He said that the government has carried out a lot of activities to reduce inflation, but the complex problems at the international level are still making it a challenge.

He also mentioned that the main solution for Ethiopia to reduce inflation is to increase production and productivity.

In this regard, the premier said that due to the drastic measures taken by the government, the nation has been registering remarkable achievements in the agricultural sector, including wheat.

He mentioned that modernizing the business system is of great benefit in reducing inflation, and said.

Abiy highlighted the importance of helping the needy, pointing out that the main focus of the government is to bring down inflation to single digits.

According to him, the inflation has been significantly reduced in the past few years and confirmed that this activity will continue.

The inflation rate is currently at 17 percent, and stated that the government will work diligently to reduce it significantly.

Prime Minister Abiy revealed that the country has planned to register 8.4 percent economic growth for this Ethiopian Fiscal Year.