Ethiopia: President reports 11.4% GDP growth

President Girma Woldegiorgis urged the House of People’s Representatives (HPR) and the House of Federation (HoF) to intensify their role towards effective implementation of the Growth and Transformation Plan (GTP).President Girma Woldegiorgis

While opening the Joint Session of the two Houses on Monday, President Girma said the government will move forward by formulating good governance and public initiation to execute the various development programs.

He said the government has maintained 11.4 percent economic growth in 2003 EC[2010/11]. The growth enables Ethiopia to become one of the top countries registering rapid economic growth across the world, he said.

President Girma said the government would further intensify efforts to control inflation by addressing problems in the trade system as per the targets set to reduce inflation.

He stressed the need to enhance local financial sources rather than foreign loan and aid to bring about rapid development in the country. Girma said the government will give prime attention to addressing problems in tax administration system and also to build capacity towards successful utilization of revenue.

The President said the government protected drought victims from famine by using foreign aid and purchasing additional food grains from federal food reserve.

He recalled the drought that occurred in the Horn of Africa affected low lands and some pastoral areas. However, government did its level to successfully prevent famine.

The President said the government carried out activities to raise awareness of executives on micro and small-scale enterprises and also formulated best practices in the sector.

Girma said in particular the Grand Ethiopian Renaissance Dam, road, railway, telecommunications, electric power, potable water and irrigation development are the projects given priority in this fiscal year.

He said the government is exerting efforts to ensure the rights of citizens through strengthening democratic and good governance institutions in the country.

Source: Ethiopian Radio and Television Agency

Daniel Berhane

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