Nat’l Macroeconomic Committee Evaluates Economic Situation of Ethiopia

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Addis Ababa October 25/2022 (ENA) 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

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

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.

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