Prime Minister Abiy Ahmed has outlined the government's unwavering commitment to tackling inflation. Addressing concerns about the cost of living, he acknowledged that inflation is a global challenge, impacting Ethiopia as well, but emphasized that the government has taken significant steps to curb its rise.
While acknowledging the complexities of the international economic landscape, the premier highlighted the government's focus on boosting production and productivity as the key to reducing inflation. He pointed to notable achievements in the agricultural sector, particularly in wheat production, as evidence of the government's success in implementing measures to increase output.
The Prime Minister also emphasized the importance of modernizing the business system as a crucial factor in curbing inflation. He reiterated the government's commitment to helping those in need, stating that bringing inflation down to single digits is a top priority.
PM Abiy highlighted the significant progress made in reducing inflation in recent years, assuring the public that these efforts will continue. He acknowledged the current inflation rate of 17 percent and expressed the government's determination to bring it down substantially.
Looking ahead, PM Abiy revealed the government's ambitious plan to achieve an 8.4 percent economic growth rate for the current Ethiopian Fiscal Year. This ambitious target underscores the government's commitment to fostering a strong and stable economy for the benefit of all Ethiopians.