(Parliamentary News), July 6, 2023; Addis Ababa; Ethiopian Prime Minister Abiy Ahmed (PhD) has stated that Ethiopia is one of the few countries that are achieving the fastest economic growth in the world.

The Prime Minister said this while responding and explaining to the members of the House of Peoples' Representatives at the 28th regular meeting held by the House.

The prime minister stated that it should be understood that Ethiopia is a country that is achieving rapid economic growth, ranking first among the East African countries and third among the sub-Saharan countries.

The Prime Minister mentioned that Ethiopia's economic growth is showing tangible and tangible changes in all sectors of the economy and that it has been able to bring tangible changes by revitalizing the private economic sector.

He also pointed out that one of the criteria for measuring the economic growth of a country is income and expenditure and he explained that it was possible to get 365.8 billion birr in revenue related to the business and compared to last year, it was able to bring 26.1 percent growth.

The Prime Minister pointed out that foreign trade has spent 574.5 billion birr in the current fiscal year, which is a 13.4 percent change compared to the previous year, and has narrowed the gap between income and expenditure.

The prime minister emphasized that since an independent country that is free from economic dependency can be built by increasing domestic income and reducing expenditure, all citizens should do their part to achieve domestic income.

In the work done to compensate for the 11 percent decrease in trade in coffee, chat, gold and minerals, wheat, clothing; The prime minister explained that coal and the service sector have achieved better results with foreign trade income.

Although inflation is global; The Prime Minister stated that Ethiopia's inflation has been reduced by 30 percent due to the work done to adjust the supply and demand by controlling the money sprinkled on the market.

He pointed out that in the current fiscal year, 6.3 percent growth is expected in the agricultural sector and 8.2 percent in the industrial sector and economic growth of at least 7.5 percent will be recorded in Ethiopia in the service sector, including tourism, airlines and the financial sector.

He explained that Ethiopia's debt burden was 59 percent before the change and now due to efforts to reduce the debt burden, it has been possible to reach the country's debt burden to 38 percent and plans are being made to reduce the debt burden to 30 percent for the next three years.

The Prime Minister explained to the members of the council that he was able to bring about a productive change by working to maintain the growth of the country by repairing, reconciling and improving the micro-economic fractures and increasing production and productivity.

Translated by Abebaw Yosef

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