Government Working To Build Strong Economy to Withstand Current Situation: GCS

Efforts are underway to build a strong economy that would enable the nation withstand current situation in the country, according to Government Communication Service.

In her briefing to media today, State Minister of Government Communication Service, Selamawit Kassa said over the past three months of this fiscal year various steps have been taken to improve the performance of the macro-economy.

She added during the stated period, gross inflation was 33 percent in November and this shows slight decrease compared to the past two consecutive months.

In the first three months of the 2014 fiscal year, the federal government’s tax revenue grew by 10.8 percent compared to the same period last year, Selamawit noted.

She explained that commodity exports grew by 16 percent compared to the same period last year and earned  972 million USD revenues.

The State Minister noted that various measures and reforms have been taken by the government to stabilize inflation citing fiscal and monetary policy reforms as examples.

“Over the past three months of 2014 fiscal year, the improvement in government revenue and expenditure, the increase in revenue in the commodity trade, as well as the improvement of FDI flow and given the current state of affairs in our country, it is necessary to build an economy that can withstand this reality to build an economy that can withstand this reality. Furthermore, the government needs to build a strong economy in order to accelerate its reconstruction efforts.”

The government will focus on increasing domestic production, improving the supply of goods and controlling market fraud, she said.

On the other hand, Selamawit indicated that the terrorist group had looted and destroyed a number of infrastructures in areas it had occupied in Amhara and Afar regions.

Social services facilities destroyed demand billions of birr to rehabilitate, and she emphasized the need to work together in rehabilitation efforts.

Source: Ethiopia News Agency