General view. Ethiopia. File photo for representational purposes only.
Addis Ababa: Ethiopian Prime Minister Abiy Ahmed on Tuesday hailed the country's growth trajectory, as the country's economy is projected to grow by 10.2 percent in the current 2025/2026 Ethiopian fiscal year.
Abiy made the remarks while presenting the government's six-month performance report to the House of Peoples' Representatives, the lower chamber of the Ethiopian parliament, in Addis Ababa, the capital of Ethiopia.
He noted that the East African country's economy is forecast to register a 10.2 percent growth, which is closely aligned with the projection of the International Monetary Fund.
Abiy highlighted positive performances across various economic sectors, such as in the export trade, foreign direct investment, agricultural productivity, and the mining sector, among others.
The country generated 5.1 billion U.S. dollars from merchandise exports over the past six months, marking a 120 percent performance of the initial target.
It has also earned 4.5 billion dollars from service exports and 2.3 billion dollars in foreign direct investment during the reported period, according to the prime minister.
Abiy said that his government's ongoing economic reform is mainly aimed at stabilizing macroeconomic imbalances, easing the country's debt burden, and achieving a high-quality growth by shifting the economic orientation from an agriculture-led approach to a more diversified structure.
"In this regard, by all measures, Ethiopia has recorded remarkable economic success," he said, emphasizing that the East African country has achieved "one of the leading economic growth without having oil resources."
He also revealed that the number of mobile phone users has expanded from 37 million to 97 million over the past eight years, while more than 58 million Ethiopians are now using mobile money services, out of a population of about 130 million.
