(Parliament news): Feb 23, 2022; Addis Ababa: “Despite the challenges, the home-grown economic reform registered improvement,” His Excellence Abiy Ahmed (PhD), PM of the FDRE disclosed to the 3rd extra-ordinary session of the HOPRs, today.

The Premier’s disclose came in his deliberation with the MPs extra-ordinary sitting held this morning that focused on the major timely issues of the nation.

According to him, all the economic measures applied within the last three years: the change of currency note, improvements in the financial sector and establishment of a capital market place assisted the improvement in the economic reform.

“In efforts to substitute the import of commodities, wheat and edible oil by the domestic products, it has been well managed to get 100 per-cent of brewery grain from domestic production and the shoes, diaper as well as uniforms for students in the last six-months” the Premier said.

The 25 per-cent booms in export which is close to 2 billion Ethiopian Birr was gained from the export of commodities, coffee, textile, chat and grease grains, Doctor Abiy elaborated.

He also clarified the fact that the measures taken to enhance the performance capacity of the mega projects of the nation including the GERD brought obvious changes.

Out of the 177 shades built within the industrial parks of the nation, the Premier explained; 158 are transferred to the investors and 104 of them are fully operating.

“The reason for the inflation is the overall global inflation and the vicious circle is most likely to continue as per the economic data. Hence, the government is working to tackle the challenge” the Premier elaborated.

He also blew a warning whistle for the domestic banks to make themselves ready for the upcoming challenge which could be posed from the overseas banks, which may join the competition here in the country as a result of the policy improvement.

by Asrat Addisu