Ethiopia Can Make-up Economic Loss Sustained in Previous Fiscal Year Featured

16 Mar 2017
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Addis Ababa March 16/2017 Prime Minister Hailemariam said that economic development indicators for the current fiscal year show that the nation can make up for the loss sustained over the previous fiscal year.

In his first bi-annual report for fiscal year 2009 E.C to the House of Peoples' Representatives, Prime Minister Hailemariam said the achievements registered in the first half of this fiscal year in agriculture, manufacturing and other industries are better compared to the previous year.

Hailemariam said that harvest from the meher, second crop season in the country, is expected to grow by nine percent and if better harvest is earned in irrigation, the agriculture sector could register a growth rate of 12 percent.

A higher growth rate, expected in the agriculture sector, could have a positive impact on the entire economic development, Hailemariam said.

During the first half of this fiscal year, the manufacturing sector has registered 18.4 percent growth, while the construction has shown a performance growth of 25 percent, he added.

Various measures taken to keep inflation to a single digit has enabled the nation to keep inflation below 8 percent. This has helped the country’s economic development to continue in a stable manner.

Hailemariam said that continuous and steady growth in government and private investments and undertakings in agriculture and manufacturing areas have contributed to continuous growth in the commanding heights of the national economy.

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