Eu Day Light

Ethiopian Prime Minister Abiy Ahmed Ali also stated that a comprehensive assessment covering the last nine months has been conducted. He noted that in the past, the economy was not conducive to growth due to weak institutional and political structures, limited private sector participation, and an ineffective regulatory environment, adding that many public enterprises operated inefficiently under a heavy debt burden.

Ali emphasized that productivity was low and the economy remained vulnerable to the effects of climate change. He said a new and pragmatic political economy approach has been adopted to address these challenges. Stating that this new approach has created strong growth momentum, Ali reported that Ethiopia’s economy is currently growing at a rate of 9.2 percent and is expected to reach 10.2 percent next year. Referring to sectoral targets, he noted growth goals of 7.9 percent in agriculture, 13.2 percent in industry, and 9.3 percent in services, adding that these steps aim to build a more resilient, competitive, and inclusive economy.