Ethiopia’s economy is likely to grow by more that 8.4 percent in the current 2024/2025 Ethiopian fiscal year, which began on July 8, the country’s Prime Minister Abiy Ahmed said.
Addressing the members of parliament (MPs), on Thursday, Ahmed said the country’s growth for the fiscal year could surpass the anticipated 8.4 percent owing to the better achievements recorded on major economic sectors during the past eight months.
He described the growth as “healthy and exemplary”, noting that the agriculture sector contributed significantly to the overall economic growth. He stated the rate inflation has declined to 15 percent from 29 percent last fiscal year.
Ahmed said that the country has become the leading wheat producing country in Africa and managed to create more than three million jobs during the past eight months.
According to the prime minister, the country has secured $14.9 billion from export trade, remittance, Foreign Direct Investment (FDI) and other sources over the past eight months.
The prime minister said the country has earned $4.5 billion from export trade during the past eight months, indicating that the revenue surpassed the last couple of years.
Recalling that Ethiopia grew by 8.1 percent last fiscal year, Abiy said the country’s gross domestic product (GDP) growth is by far higher than average of growth in sub-Saharan Africa.
MG/as/APA