Ethiopia has targeted a 9 percent economic growth during the current Ethiopian fiscal year, which began on July 8, President Taye Atske Selassie has disclosed.
Speaking at the joint session of the House of Peoples’ Representatives, and the House of Federation on Monday, Atske Selassie said Ethiopia’s economy performed well during last fiscal year, registering 8.8 percent growth.
During the current fiscal year, the government will consolidate efforts and raise the growth rate to 9 percent through strengthening macroeconomic stability and broadening growth across key sectors.
He said the country has shifted from a single-sector economic development to a diversified one to support the country’s overall economic development and growth in export trade.
According to the president, the East African country earned 8.3 billion U.S. dollars in revenue, the highest ever, from export trade during the previous Ethiopian fiscal year, which ended on July 7, 2025.
He said agriculture and industry sectors were key drivers of the export surge, complemented by expanding digital economy and industrial production capacity.
The president further said tourism development will also remain a key priority, with plans to expand tourist destinations, preserve cultural and natural heritage, and enhance air transport infrastructure to improve accessibility and global competitiveness.
He reaffirmed the government’s commitment to strengthening critical sectors such as irrigation, water, energy, and transport and expanding of roads, air and rail networks, and logistics systems to sustain the country’s economic momentum.
The president also recalled the recent major economic achievements including the inauguration of the Grand Ethiopian Renaissance Dam (GERD) and launching of a natural gas development project last month.
According to the president, a series of major initiatives including a large-scale fertilizer production plant will be operational to revolutionise farming practices and help the country achieve food self-sufficiency.
MG/as/APA