New Ethiopian Fiscal Year Pivotal Period in Journey towards Prosperity, Says Deputy Premier Temesgen

Addis Ababa, July 18, 2025 (ENA) --- The Ethiopian Fiscal Year that has just ended marks the beginning of the nation's revival, characterized by the successful implementation of effective programs, Deputy Prime Minister Temesgen Tiruneh said.

The deputy premier further stated that efforts in this new Ethiopian Fiscal Year will focus on sustaining the achievements across all sectors, solidifying them on a strong foundation.

He made the above remarks during an ongoing discussion with leaders of federal institutions regarding the performance review of the just ended 2017 fiscal year and the new 2018 fiscal year plan.

In his address, DPM Temesgen elaborated that the just ended 2017 fiscal year was, in many respects, a pivotal period that etched a new chapter in Ethiopia's journey towards prosperity.

 

He highlighted the year as the starting point of Ethiopia's era of rejuvenation across all domains, underscoring the successful and comprehensive implementation of macroeconomic reforms.

Significant historical achievements were recorded in the manufacturing, agriculture, service, and mining sectors, among others.

Temesgen pointed out that the tangible results emerging from urban corridor developments and other projects, noting the remarkable progress in education, health, justice, administration, and diplomatic fields.

Furthermore, the Deputy Prime Minister revealed that Ethiopia hosted over 150 international and continental conferences during the just ended fiscal year, practically demonstrating its suitability as a favorable tourist destination.

Looking ahead to the new fiscal year, Temesgen stated that efforts would be concentrated on further strengthening the economic growth, price stability, domestic revenue mobilization, and export growth achieved through robust reform and implementation in the past year.

The positive strides made in macroeconomics and productive sectors would be sustained and solidified on a strong foundation, he noted.

Planning and Development Minister Fitsum Assefa, on her part, explained that Ethiopia has been undertaking effective initiatives to ensure food sovereignty.

 

She also highlighted the ongoing successful efforts to boost production and productivity, affirming that these would continue to be strengthened in the new fiscal year.

Fitsum further outlined that the current fiscal year plan specifically aims to successfully continue the reform by effectively executing tasks such as increasing production and productivity, creating extensive job opportunities, significantly reducing the cost of living and inflation, collecting revenue, and expanding exports.