July 19, 2024

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Ethiopia macro economy

Ethiopia has Built a Strong Macro Economy, Claims Minister

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Ethiopia has built a strong macro economy, claims Selamawit Kassa. “Over the past 10 months Ethiopia has been through many challenges, it has been proved that it is a country that has not been hindered and has been able to build a macro economy built on a strong foundation,” said the minister of communication services Deeta Selamawit Kassa.

She shared details of economic growth in different sectors of economy in the last 10 months.

In horticulture sector, production increased by 122 million quintals and it reached 340 million quintals this year. The manufacturing industry was planned to reach 40 percent of the market share in the country, and with this, it has been possible to make it have 39 percent of the market.

The security forces have stated that they have been able to produce uniforms in the country and have been able to save 200 million dollars. 16 mining companies have been deployed and some of them are preparing and some of them have started production.

She shared statistics about tourism too. 928,000 tourists visited Ethiopia in the last 10 months, while the number of domestic tourists has increased.

While the government is claiming to have built a strong macro economy, its trickle down effect remains to be seen. Unemployment, inflation, declining value of birr, conflicts related economic hurdles are still major challenges.

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