Nat’l Macroeconomic Committee Evaluates Economic Situation of Ethiopia

The National Macroeconomic Committee has reviewed the current economic situation of Ethiopia in detail under the chairmanship of Prime Minister Abiy Ahmed.

The committee pointed out during the meeting that Ethiopia’s economy is resilient and capable of withstanding pressure.

It has also set direction to use domestic capacity to enhance the economy.

Moreover, direction has also been set to further strengthen the ongoing works to solve problems facing the economy.

During its evaluation of the economy, the National Macroeconomic Committee noted that the reforms carried out in the past few years have made the Ethiopian economy resilient.

Finance Minister Ahmed Shide said that Ethiopia’s economy has gone through several reform processes to cope with domestic and global economic pressures.

This has not only made the economy strong, but also enabled it to progress, he added.

According to him, the macroeconomic committee has in its review concluded that the reform works undertaken were effective.

Ahmed Shide further pointed out that the committee has stressed the need for proper usage of domestic potential as the basis for development and to further strengthen the relations with development partners.

Finance State Minster, Eyob Tekalegn said on his part that the committee has stressed the need to focus on internal capacity to sustain the economic growth of the country.

Stating that Ethiopia has a high potential, he stated that the macroeconomic committee set direction to focus more on exploiting this potential.

The macroeconomic committee has also assessed the obstacles the economy has been facing.

Economic sabotage, corruption and hiding produces were pointed out as the major challenges.

To alleviate the problems, the committee has set direction, it was learned.

The macroeconomic committee is the central organ that coordinates economic policy making within the government. It has 10 members, including the Governor of the National Bank of Ethiopia, ministers of Finance, Planning, and Revenues, as well as senior economic advisers.

Source: Ethiopia News Agency