Ethiopia Registers Remarkable Economic Performance Amid Challenges Last Yr. : President Sahle-Work Zewde

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Ethiopia Registers Remarkable Economic Performance Amid Challenges Last Yr. : President Sahle-Work Zewde
Ethiopia Registers Remarkable Economic Performance Amid Challenges Last Yr. : President Sahle-Work Zewde

Africa-Press – Ethiopia. Despite local and outside challenges, Ethiopia has registered remarkable economic performances over the last budget year, President Sahle-work Zewde said.

In her opening speech while addressing the joint session of the 6th tenure and 2nd year of the House of Peoples’ Representatives and the House of Federation, President Sahle-Work Zewde outlined the focus areas of the government in the new budget year.

The president said that Ethiopia has continued becoming the first foreign direct investment (FDI) destination in East Africa by overcoming outside and domestic challenges, describing it breakthrough in the country’s foreign direct investment history.

Agricultural, manufacturing and mining sectors contributed to the achievements in export trade, she said.

Over the past consecutive years the growth registered in remittances stood on average at 10.5 per cent , she said,

Over the last budget year, 5.65 billion Birr was earned from money transfer, showing a 14.5 percent increment compared to 4.9 billion USD earned the year before, the president elaborated.

Among the main achievements are the increment of export trade and the growth in foreign direct investment (FDI), she said.

According to her, the service sector of export trade has shown a 29 percent growth in the stated budget year.

Tax income of the federal government also increased, she said, adding that tax collection showed 93.5 per cent of the target.

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