Highlighting the "impressive performance" of various economic sectors, Assefa said agricultural products have achieved commendable outputs. Total government expenditure during the same period amounted to 495 billion birr (about 8.6 billion dollars), with capital expenditure accounting for a substantial 15.5 percent of the total. Ethiopia has generated about 2.5 billion dollars from the export of goods and 5.8 billion dollars from service exports. The minister expressed confidence that the projected 7.9 percent economic growth is achievable by the end of the fiscal year, attributing it to the positive outlook and progress made in key economic areas crucial for the country's macroeconomic development. Despite consistently high economic growth over the last decade, Ethiopia remains one of the poorest countries, according to the World Bank.

Source: Ethiopian News May 21, 2024 18:11 UTC