Last Thursday, during the 28th regular session of the House of Representatives (Parliament), Ahmed stated that the second local economic reform is crucial to address major macroeconomic issues, including inflation and the budget deficit.
He warned that the current global economy oscillates between hope and crisis. “The International Monetary Fund is forecasting a slowdown in global economic growth. In this context, the Ethiopian economy needs to be reviewed.”
Regarding the progress in the local agricultural sector with an expected growth of 6.3 percent in the 2015 financial year (Ethiopian calendar), he recalled the progress made in wheat cultivation, which Addis Ababa is already exporting, rice and other activities such as domestic poultry farming and fruit growing with significant Growth.
In the financial sector, the Prime Minister reported that the government has taken numerous measures to improve the sector in recent years, including digital banking, interest-free banking and the introduction of the capital market, among others.
More than 3 million Ethiopians have accessed credit through the digital banking system, while 34 million have used mobile banking over the past two years, it said.
At the same meeting, the federal budget for Ethiopia’s fiscal year 2023-24, amounting to more than $14,567 million, was approved by a majority of votes and one abstention.
The Council of Ministers had previously approved the draft budget at its 21st ordinary session on June 6 and forwarded it to this government body.
The Prime Minister’s Office then announced that the amount for this period (year 2016 in the Ethiopian calendar) was prepared from the perspective of preserving the nation, caring for citizens affected by man-made disasters and rebuilding infrastructure damaged by the conflicts.
Similarly, it aims to achieve the directions and goals of social and economic transformation that may take place in the future and is being prepared on the basis of the 2023-2027 Medium-Term Macroeconomic and Fiscal Policy Frameworks.
More than $6,781 million has been allocated for regular federal government expenditures, more than $3,740 million for capital expenditures, and more than $3,927 million for state support.
More than $256 million will go toward the implementation of the Sustainable Development Goals.
On the other hand, an Ethiopia-Djibouti Consultation Forum was held on July 5-7, which Ethiopian Deputy Prime Minister and Foreign Minister Demeke Mekonnen described as a historic milestone and a confirmation of firm government commitments.
While planting trees as part of the Green Legacy Initiative national reforestation program at Bole Lemi Industrial Park with a delegation of Djibouti public diplomacy, Mekonnen highlighted the adoption of effective measures to build a greener and more sustainable environment.
The working agenda of the event included discussions on the Addis Ababa government’s efforts in the areas of migration, climate change and its experiences with the Green Legacy Initiative.
The Coordinator of the Migration Policy Implementation Project to Strengthen the Intergovernmental Authority for Development (IGAD), Yemisrach Benalfew, officially announced the Ethiopia-Djibouti Railway Mission, the first of its kind promoting the integration vision of the regional entity.
Benalfew said that IGAD “promotes a strong link between regional integration and human mobility and the potential for countries to achieve development benefits.”
Djibouti’s public diplomacy delegation consisted of 112 people, including academics, journalists and influential figures.
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