Addis Ababa: During the 36th Regular Session of the House of People’s Representatives held today, Prime Minister Abiy Ahmed highlighted the major achievements of the fiscal year as indicated below
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Payment for debt service and debt payment has been reduced to 17.5 percent of the GDP.
Ethiopia was able to repay 10 billion USD over the last years since Abiy Prime Minister Abiy assumed power.
Over the last 11 months, the country has been able to collect 466 billion birr in the form of revenue.
The budget deficit of the country has been reduced to 2.5 percent from 4 percent the previous year.
The nation has expended birr 716 billion over the fiscal year.
Ethiopia was able to earn 2 billion USD in import substitution programs.
Ethiopia expended 7 billion USD for purchase of fertilizer, fuel and debt payment.
The country was able to attract 3 billion USD in FDI.
The number of banks in the country has reached 32
with 12,800 branches.
The number of clients with savings at banks has grown from 30 million to 100 million.
The overall inflation in the country has been reduced to 23 percent from 30 percent the previous year.
The nation has become top producer of coffee, wheat, honey in Africa as the result of bounty of the basket campaign.
The industry sector has shown 10.1 percent growth over the current fiscal year
Total of 600 factories including formerly established ones were operationalised out of which 217 were in Tigray following rehabilitation by the federal government.
The production of cement has grown by 30 percent compared to previous years and is even expected to grow much larger as the result of Lemi Cement Factory which is expected to produce 50 percent of the national cement production.
The nation has reached 507 million quintals of crops the fiscal year. In just one year, the production has grown by 100 million quintals.
More than 37 million domestic tourists visited tourist attraction areas in the
country.
Production of pharmaceutical products has grown to 38 percent in the current year from 8 percent last year.
Source: Ethiopian News Agency