Saturday, July 2, 2022
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    PoliticsRestructuring underway to make new government the most efficient

    Restructuring underway to make new government the most efficient


    The Ethiopian government said that the new government to be established in early October would benefit from the most profound governmental restructuring in its tenure.

    State Minister of Finance, Eyob Tekalegne (PhD), and Foreign Press Secretary for the Office of the Prime Minister, Billene Seyoum conducted a joint weekly press conference on Thursday.

    During the press conference, Eyob said the forthcoming government structure will fundamentally address market structure issues by clarifying the mandate of institutions and strengthening regulatory capacity.

    “Institutional mandates are clarified, bureaucratic hurdles removed, and we feel that this is the most effective government in terms of its mandate and delivering capacity,” Eyob told reporters.

    A few days ago, Speaker of the House of Peoples’ Representatives (HPR), Tagesse Chaffo in an exclusive media briefing for selected state-owned media institutions announced that the new government is going to be established on October 4, 2021.

    It is to be recalled that in the June 2021 federal and regional parliament elections, Prosperity Party (PP) won 410 seats out of 436 available.

    Speaking about the economy, Eyob (PhD) noted that it remains resilient and maintains a stable and promising path, despite multiple shocks, including the COVID-19 pandemic, the global economic slowdown, the locust infestation, and the conflict in northern Ethiopia.

    “It will not be an exaggeration to say the Ethiopian economy has exhibited remarkable performance over the period,” Eyob said.

    A review of state-owned enterprises’ annual performance, concluded one week ago, indicated that no single enterprise registered a loss during the fiscal year, said Eyob, cheering the result as “remarkable,” adding, usually half of them would report a loss.

    “Overall, the economy has stayed on course and it is believed to be the result of the broad-based reform that the government has been implementing across the economy over the last two and a half years,” said Eyob.

    It can be recalled that Ethiopia launched a homegrown economic program that aimed at micro stabilization, unlocking new potential and setting the foundation for long-term sustainable development.

    As a critical achievement during the 2020/2021 fiscal year, the debt to GDP ratio of the country has come down to 50 percent, that is an eight percent decline from 2019/2020, Eyob (PhD) said.

    According to the State Minister of Finance, almost after two and half decades, a new agricultural policy has been prepared and reviewed by the macroeconomic team, and sent to the Council of Ministers for approval.

    Furthermore, he also said, the government is procuring one million metric tons of wheat and 53 million liters of edible oil to be distributed across the nation.

    Concerning development partners, Eyob mentioned misunderstandings on humanitarian issues. “We feel that our partners fail to understand the serious risk the terrorist group of Tigray People’s Liberation Front (TPLF) had planned not only for Ethiopia but also for the entire region.”

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