Ethiopia Targets 11% Economic Growth

Ethiopia plans to post 11.1% economic growth in 2017/18 ========

Ethiopia says it will work exhaustively on key sector to realize an over 11 percent economic growth in the current Ethiopian fiscal year.

 While briefing directions of the government for the joint session of the two parliaments, President Mulatu Teshome said manufacturing industry, agriculture and foreign trade are among the key areas.

 By working on the key sectors effectively, Mulatu said Ethiopia would realize the 11 percent growth, recalling the 10.9 percent growth registered last year despite the drought.

 Enhancing the capacity of manufacturing industries in producing value added products and encouraging import substitution will be among the major activities to realize the goal, Mulatu said.

 In this regard, the government will continue efforts in the expansion and development of infrastructures such as industrial parks to encourage more companies to the sector and realize structural transformation.

Activities towards modernizing the agriculture sector as well as helping the youth engage in the sector will also be major priority area, according to the President.

Despite the role that the foreign trade could play in the development of the country, the export sector performed poorly last year.

Noting this fact, the President said boosting the export sector will continue to get special attention.

Despite the 2015 El Nino induced drought that sustained through 2017, Ethiopia has managed to register a 10.9 percent growth last year.

Agriculture has contributed 36.3 percent of the GDP, while industry and service sectors shared 39.9 percent and 25.6 percent respectively.

In addition to the economic growth, last year, Ethiopia has witnessed various activities aimed to ensure god governance and widen political space.

He mentioned the efforts of the government to address problems related to good governance including the in-depth evaluation carried out inside the party, and the negotiation being held among national political parties on different issues.

Saying that these activities brought fruits in addressing public queries, Mulatu affirmed for the continuation of these efforts to ensure good governance

source ena

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