Addis Ababa: Ethiopia’s economy is at a new turning point in history President Taye Atske Silassie has said.
The joint session of the 6th year and 4th tenure of the House of Peoples’ Representatives and the House of Federation opened today.
The joint session has appointed Ambassador Taye Atske Silassie as head of state of the Democratic Republic of Ethiopia.
Addressing the two houses, President Taye Atske Silassie stated that Ethiopia’s economy is at a new turning point, highlighting the country’s transition to a multi-sector economy.
He noted that this shift is gradually increasing the number of citizens who benefit from economic growth. Ethiopia’s economy recorded a growth rate of 8.1 percent in the concluded Ethiopian fiscal year.
He mentioned that the agricultural sector alone registered a growth of 6.9 percent and added that some 700 million quintals of major crops were produced in the last fiscal year.
He mentioned that 230 million quintals of production were achieved through harvesting in the Meh
er irrigation season.
The president pointed out that efforts to supply wheat to the export market have also been strengthened.
He added that initiatives like Ye Lemat Tirufat (Bounty of the Basket) and fruit cultivation have contributed to stabilizing inflation.
Taye stated that 3.8 billion USD in revenue was generated from the export of goods, which also managed to substitute by local products worth of 2.8 billion USD.
In connection with the economic revival, more than 4.2 million jobs were created in the last fiscal year, he explained.
President Taye also noted that 379,000 citizens have been provided with employment opportunities abroad.
Source: Ethiopian News Agency