Fitsum Assefa, minister of planning and development (Photo: MoPD)Addis Ababa – Ethiopia’s economy is on track for robust 7.9% growth in the current fiscal year, according to Minister of Planning and Development Fitsum Assefa. Additionally, rice production saw a dramatic increase, soaring from eight million quintals to 38 million quintals during the same period, according to the minister. “Digital transactions have increased by an additional four trillion birr this year compared to the previous year,” Minister Fitsum reported. Except for merchandise exports, Fitsum disclosed that service exports increased by 7.3%, remittances by 7.4%, and FDI by 4% during the period. These achievements, according to Minister Fitsum, are strong indicators that Ethiopia is positioned for a 7.9% economic expansion in the current fiscal year.

Source: Ethiopian News May 21, 2024 15:17 UTC