Ethiopia Embarks on Ambitious 10.1 Percent Economic Growth Trajectory for 2019 Fiscal Year 

Addis Ababa, October 6, 2026 (ENA)—  Addressing the joint opening session of the House of People's Representatives and the House of Federation, President Taye Atske-Selassie unveiled Ethiopia's aspirations to achieve a robust 10.1 percent economic growth rate in the 2019 Ethiopian fiscal year.

The President's announcement underscores the nation's commitment to fostering a thriving economy, bolstered by strategic fiscal measures aimed at augmenting domestic revenue collection, expanding the tax base, and effectively managing national debt.

The President outlined that the country's gross domestic product (GDP) is anticipated to expand to a substantial 9.6 trillion Birr.

Looking ahead to the 2019 fiscal year, the government is poised to prioritize structural transformations driven by quality and efficiency across key economic sectors.


The government aims to increase national electricity coverage to 65 percent, enhance access to water for the populace, increase health insurance coverage to 85 percent, and raise forest cover to 26 percent.

Additionally, comprehensive initiatives will be implemented to attract over 1.6 million international tourists during the fiscal year.

President Taye emphasized the government's commitment to refining project execution, modernizing project finance mechanisms, and improving inter-governmental coordination between the federal government and regional states.

These efforts are crucial for sustaining the national development momentum and ensuring that Ethiopia remains on a trajectory of economic growth and development. 

As of the current date, October 6, 2026, these plans are set to propel Ethiopia forward, marking a significant step in the country's economic development journey.

Reflecting on past achievements, President Taye highlighted the significant surge in annual crop production, which has impressively grown from 335 million quintals seven years ago to a remarkable 1.3 billion quintals in the 2018 fiscal year.

Furthermore, export trade revenue reached an unprecedented high of 11.2 billion USD, while foreign direct investment inflows totaled 4.5 billion USD over the same period.

The manufacturing sector has demonstrated exceptional performance, boasting a growth rate of 15.8 percent.

Concurrently, credit supply has expanded to 1.3 trillion Birr, and total domestic revenue has reached nearly 1.98 trillion Birr.

Notably, inflation has been successfully contained to 13.4 percent as of May 2026, showcasing the resilience of the national economy in the face of internal and external pressures.