Ethiopia unveils a three-year economic recovery plan

Addis Ababa, April 12, 2022 (FBC) – With a view to adjusting the macroeconomic imbalance, a three-year plan has been prepared to revive Ethiopia’s economy which has been challenged by various local and global factors, the Ministry of Planning and Development disclosed.

Speaking to EPA, the Planning and Development Minister Fitsum Assefa (PhD) stated that, the country’s macro-economy is glitching due to the northern conflict and COVID-19 pandemic. Global issues including the ongoing Russia-Ukraine War also affect Ethiopia’s economy. “So, it is important to recover the economy.”

Fitsum further noted that, the plan has taken into account the national and global current affairs and it will be implemented in the coming Ethiopian budget year (2015). Indeed, the recovery plan aims to ensure the economic benefits of citizens through bringing quality economic growth.

As to her, the plan also aims to make the agriculture, manufacturing industry, mining, tourism, and ICT sectors the main driving forces of Ethiopia’s economic development. Accordingly, the 2015 budget will be prepared in a way that will help the economic recovery.

“A great deal of attention will be attached to water development activities thereby building a drought-resistant economy and the recovery plan also aims to reverse the economic effects of the northern conflict.”

To revive the war-affected economy, a secretariat office has been formed under the Ministry of Finance to lead the reconstruction activities and it is expected to bring about visible change. By the same token, research has been conducted in war-affected areas and validated by the government, the Minister remarked.