Addis Ababa, July 05, 2021 (Walta) – Prime Minister Abiy Ahmed during 6th Year 4th Special Session of House of Peoples’ Representatives said that Ethiopia has achieved remarkable financial records during this fiscal year.
He said that the COVID-19 pandemic, projects that have not been finished, floods, and citizen displacement and locusts made economic growth more challenging.
He stated more than 15 million quintals of wheat have been produced, adding that more than half a billion birr was collected in the mining sector.
According to the Premier, the country earned around $3.5 billion from foreign markets, and foreign debt declined from 37 percent to 26 percent.
Foreign investment has increased by 20 percent and the 2013 growth is expected to be better than it was in 2012, he said.
The Premier also announced that bankbook holders’ numbers have increased from 38.8 million to 66.2 million customers resulting in massive fundraising.
Savings has increased by 30 percent, creating more capacity for loan 74 percent of which was accessed by the private sector, he said.
Number of bank branches has also grown from 5,100 to 7,100 with 6 million mobile banking users. Shareholders number has increased from 79 million to 144 million.
Additional effort is needed in ensuring proper loan repayment by investors in a way that enables more job creation, he said.