Sunday, October 1, 2023
NewsPM touts progress in economy as lawmakers demand more

PM touts progress in economy as lawmakers demand more

Ethiopia’s Prime Minister Abiy Ahmed (PhD) has defended his administration’s economic record in the face of questions from lawmakers.

Addressing parliament, Abiy responded to questions from legislators on issues of debt management, inflation, and economic growth.

He said Ethiopia’s debt to GDP ratio had declined significantly from 59 percent to 38 percent in the last four years while food inflation had eased from 43 percent last year in May to 28 percent last month.

These achievements show we are on the right track despite challenges like conflict and inflation, Abiy told parliament.

The prime minister argued that Ethiopia had continued to meet its debt obligations on time while successfully reining in inflation.

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“We have not defaulted on any external loan despite war and inflationary pressure,” he added.

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