Addis Ababa, July 4, 2024 (Addis Walta) Prime Minister Abiy Ahmed pointed out that Ethiopia’s economy has grown by 7.9 per cent this year.
Responding to the questions raised by the members of the House of People’s Representatives at the 36th regular session, the Prime Minister highlighted micro economic aspects of the economy.
Agriculture has grown by 6.1 per cent while industry, which has shown tremendous change, has shown a staggering 10.1 per cent growth, PM Abiy noted.
As far as inflation is concerned he said that the government managed to bring down last year’s 30 percent inflation to 23 per cent taking various measures including increasing productivity, weekend market, school feeding and among others.
In addition, the Prime Minister stated that 3.8 million jobs, both locally and abroad, are created this years.
Although the figure is insignificant compared with other African countries, Ethiopia gained $6.5 billion remittance while Foreign Direct investment (FDI) covered $ 3 billion.
Prime Minister Abiy indicated that Ethiopia has become one of the biggest FDI destination in East Africa despite domestic conflict, lack of aid and grant as well as the security issue in Red Sea Region.