Despite Ongoing Challenges, Ethiopia’s Economy Grows

December 14, 2021

BY YESUF ENDRIS

ADDIS ABABA – The ongoing macroeconomic reforms have brought promising results in improving tax collection and boosting government’s revenue thereby sustaining the economic progress even if the country is challenged by the ongoing war against terrorism, the Government Communication Service (GCS) said.

In her press briefing yesterday, GCS State Minister Selamawit Kassa stated that the total amount of money collected from tax in the first quarter of the current Ethiopian fiscal year has shown a 10.8 percent increment from the past year same period. The government’s revenue also exceeded the past year’s performance by 22.7 percent.

The state minister further indicated that Ethiopia’s export performance is not significantly harmed by the conflict and the country secured over 972 million USD during the last three months of the current budget year. Whilst coffee kept its dominance in foreign currency earnings and generated 329 million USD in the reported period, the performance surpassed that of the past year by 63.1 percent.

Meanwhile, the government has been working tirelessly to expand exportable agricultural commodities including vegetables with a view to boosting the foreign currency earnings. Viable fiscal policies are also put in a place to revive the war-affected economy, Selamawit remarked.

The Ethiopian Herald December 14/2021