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Addis Ababa, July 4, 2024 (Address) Prime Minister Abiy Ahmed noted that Ethiopia’s economy has grown by 7.9% this year.
Replying to questions raised by members of the 36th regular session of the House of Peoples’ Representatives, the Prime Minister stressed on the microeconomic aspects of the economy.
Prime Minister Abiy noted that agriculture grew by 6.1 percent, while industry also saw a dramatic change, recording a staggering 10.1 percent growth.
On inflation, he said the government had successfully brought down the inflation rate to 23 percent from 30 percent last year by taking various measures including increasing productivity, weekend markets, school feeding and so on.
Besides, the Prime Minister said that 3.8 million jobs were created this year both domestically and abroad.
Although the figures are minuscule compared to other African countries, Ethiopia received $6.5 billion in remittances, while foreign direct investment (FDI) reached $3 billion.
Prime Minister Abiy said Ethiopia has become one of East Africa’s top destinations for foreign direct investment, despite conflict at home, inadequate aid and grants, and security issues in the Red Sea region.
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