Ethiopia Homegrown Economic Reforms

The Ethiopian government this year unveiled a new economic reform blueprint, dubbed Homegrown Economic Reform, with a major aspiration to unlock the country’s development potentials..

While unveiling the new economic reform agenda late in the year at the UN Conference Centre in the capital, Addis Ababa. Prime Minister Abiy Ahmed said the initiative aims to propel Ethiopia into becoming the African icon of prosperity by 2030.

The newly introduced initiative, among other things, outlined macroeconomic, structural and sectoral reforms that are said to pave the way for job creation, poverty reduction, and inclusive growth.

The initiative gives special emphasis to sectors such as agriculture, manufacturing, mining, tourism, and information, communication and technology.

In view of this strategic data, Ethiopia last Friday announced that she will receive $3 billion from the World Bank to help strengthen reforms in its traditionally state-controlled economy.