Ethiopia Collects Total of More Than 27 Billion USD Resources Following Implementation of Macroeconomic Reform 

Addis Ababa August 3/2024 (ENA)  Ethiopia’s full-scale implementation of the macroeconomic policy has enabled it to collect a total of over 27 billion USD resources from various sources, Finance State Minister Eyob Tekalign said. 

Recall that the government recently revealed the commencement of full-scale implementation of the macroeconomic policy with the target to register sustainable growth and ensure inclusive benefit of citizens. 

Briefing the media regarding the implementation of macroeconomic policy, the state minister  noted that the government has been working with determination to solve the economic, social and political problems of the country.

Various reform activities have been carried out regularly to build a stable macro-economy, he elaborated.

Accordingly, Ethiopia’s full-scale implementation of the timely and reasonable macroeconomic policy recently is instrumental in achieving effective operations in all spheres and solving the economic fracture in a sustainable manner.

The reform activities being carried out to take Ethiopia’s economy to the desired level are registering achievements, Eyob stated, explaining that the debt relief, resource gained from IMF and World Bank Group, deposit from partner countries, and the currency swap add up to a total of  over 27 billion USD. 

For him, the resources will be utilized for pro-poor oriented activities and for the realization of the initiatives to make Ethiopia one of the middle-income countries.

According to him, all the necessary preparations have been done for the implementation of  the macroeconomic reform which is not carried out at once.  

The reforms that have been carried out in agriculture, mining, tourism and other sectors have created huge capacity to improve the economic fracture, he elaborated.  

Highlighting that the economic policy implementation will change the livelihood of citizens, the state minister added that possible threats related to the implementation have been identified and resolved in advance.

Revealing that Ethiopia had been under heavy debt burden before the national reform, Eyob said the government has reduced the debt burden from over 30 percent to 17 percent.

Reducing debt burden is one of the benefits of the macroeconomic reform policy, along with helping the country to attract foreign direct investment by solving the challenges of foreign currency shortage in Ethiopia.