Ethiopia’s gross domestic product has doubled in 5 years for the first time in our history despite various pressures, according to Prime Minister Abiy Ahmed (PhD) while addressing the parliament’s regular session this morning.
Reflecting on achievements and the government’s main priorities for the current fiscal year, the Prime Minister explained that among the main goals set are stabilizing the country’s macro economy, modernizing and advancing the investment and business environment, increasing the productivity of sectors, and increasing the capacity of the government.
He pointed out that the government is carrying out multiple activities with the aim of increasing the economy from ‘grey to green’.
The Prime Minister said that the gross domestic product has doubled in the last 5 years for the first time in history under various pressures. In that regard, Ethiopia’s gross domestic product has reached about 164 billion dollars from 84 billion dollars. He said this data is also confirmed by the International Monetary Fund (IMF) recent report.
According to him, the per capita income has doubled from 882 USD to 1,549 USD in the past few years.
The Premier also emphasized that Ethiopia is one of the few countries that are achieving rapid economic growth. Regarding the prospect of Ethiopia’s fast economic growth, the IMF’s recent projection shows that Ethiopia’s economy has resisted global shocks, unlike other nations that struggled to cope with the impacts of global factors such as COVID-19 and conflicts.