Ethiopia could secure USD27 billion from various sources for fully implementing a reformed macroeconomic policy.
Explaining the subject to journalists the country’s State Minister for Finance, Eyob Tekalign (PhD) stated that Ethiopian government has recently announced that it has started the implementation of the macroeconomic policy in a complete manner in order to achieve sustainable growth and ensure the comprehensive benefits of the citizens.
The government has been working with determination to solve the economic, social and political problems accrued before the national reform which began in 2018, he reminded media.
To solving the economic challenges Ethiopia faced and build a stable macro-economy, various reforms have been carried out regularly, the state minister said.
He also indicated that it is timely and reasonable for Ethiopia to fully launch its macroeconomic reform policy.
He added that the policy is crucial to carry out effective operations in all fields and solve the economic crisis in a sustainable way.
The USD27 billion secured from various finance sources is suggestive that the reform program being undertaken are showing fruition, Eyob said.
The finance obtained will be used to fund poor-oriented programs and of initiatives designed for the realization of making Ethiopia a middle-income economy, he pointed out.
He also explained that the reforms made in agriculture, mining, tourism and other sectors have created a great potential to improve the economic breakdown.
Reiterating execution of the economic policy tangibly changes the lives of citizens, Eyob said that possible threats related to the policy implementation were identified and resolved in advance.
Regarding low-income and vulnerable citizens, he mentioned that better subsidies were planned to prevent the risk of inflation due to the macroeconomic reforms.
According to the state minister, the economic reforms made by the government enabled Ethiopia to lower the debt burden from over 30 percent five years ago to 17 percent now.
He further mentioned that the implementation of the macroeconomic policy will enable Ethiopia to properly collect revenue the economy generates and use this own money to cover expenses for attaining national development goals as well as attract foreign direct investment (FDI) by permanently solving the shortage of foreign currency that has been challenging Ethiopia.