Ethiopia’s economic growth to accelerate in manufacturing, construction: PM Office

Addis Ababa, October 18, 2024 (FBC) – Prime Minister Abiy Ahmed convened the Council of Ministers today for a 100-day cabinet performance review, where macroeconomic progress and key parameters were presented.

The review highlighted global political and economic trends and their impact on Ethiopia, the positive effects of reforms, and the performance of economic reforms and key projects.

With an economic growth rate of 8.45% projected for the coming year, the reforms’ positive outcomes were identified as inclusive and sustainable economic growth, improved government revenue and investments, a reduction in government debt, enhanced competitiveness of state-owned enterprises, increased foreign exchange gains, a more competitive finance sector, a favourable investment environment, and greater sectoral productivity.

Ethiopia’s economic growth is expected to particularly accelerate in industries such as manufacturing and construction.