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Ethiopia has registered a 6.1 percent economic growth during the past fiscal year that ended on July 8, 2020, despite the global pressure posed by the COVID-19 pandemic.

Premier Abiy on Monday addressed the special sitting of the House of Peoples’ Representatives and responded to questions raised by members of the parliament.

In his address, Abiy said the nation has registered a 6.1 percent economic growth, which is encouraging compared to the global economic prediction though it is dropped to 2.9 then the target.

However, Ethiopia’s economy remains resilient despite the challenging global pandemic, he added.  

Ethiopia’s GDP has reached 107.4 billion USD and surpassed 1000 USD per capital, Abiy said and added that remarkable achievements were registered in the 2012 fiscal year of which joining the long-desired lower-middle-income countries was ensured.

According to him, agriculture, industry, and service sector are amongst the better-growing sectors registering 4.3, 9, and 5.3 percent growth respectively.

The government has been making sustained efforts to add value to its agricultural products and is planning to develop large Agro-industrial parks across the country, he mentioned.

Moreover, Abiy noted that mining is the top growing sector with 91 percent growth over the last budget year and the government has prioritized the sector as it has the potential to hugely contribute to the entire GDP and economic growth.

Stating that the number of citizens with saving accounts has raised from 37.8 million to 50.7 million observing a 31 percent increase, Abiy noted this will have a significant impact in allowing financial institutions to provide loans to investments.

Speaking of government support with regard to the emergence of the pandemic, the Premier pointed out that banks were provided with 1 trillion birrs to enhance their capacity of providing the loan.

Thus, Abiy stated that 70 percent of the 271 billion birrs, which is 189 billion, a loan given by the banks was provided to the private sector.

Transport, education, and tourism are some of the sectors that have been the hardest hit where they observed impacts of the pandemic and registered lower growth than what was expected, it was indicated.

The government allotted about 3.3 billion birrs in terms of a loan to support organizations within the tourism and tour operators, he added.

The rise in the national budget for the 2013 Ethiopian fiscal year will hugely support in sustaining the registered growth and further boost the economic activities to the desired prosperity, Premier Abiy underscored.

The Eritrean President Isaias Afwerki has concluded his three-day working visit to Ethiopia.

“Following a successful three day visit to Ethiopia and fruitful discussions on bilateral and regional issues, we say farewell to President Isaias and his delegation,” said Prime Minister Dr Abiy Ahmed on twitter.

During his stay in Addis Ababa, President Isaias, along with Prime Minister Dr Abiy, also visited development projects in different parts of the country.

They visited among others, the Ethio-Engineering Group, Ethiopian Air Force, Entoto Natural Park, Grand Ethiopian Renaissance Dam (GERD), Koysha and Gibe-III hydropower plants.

Eritrean President Isaias Afwerki this morning arrived in Ethiopia for a three-day working visit.

Upon arrival at Jimma Aba Jifar Airport, he was received by Prime Minister Dr Abiy Ahmed.

The Presidential delegation includes Foreign Minister Osman Saleh and Presidential Adviser Yemane Ghebreab.

The two leaders later visited Gibe-III hydropower plant and hybrid coffee seedlings being produced in cluster farming approach in Goma woreda in Jimma zone.

They will hold extensive consultations on further enhancement of bilateral ties as well as the consolidation of regional cooperation, he added.

As it will be recalled, Prime Minister Dr Abiy had paid a similar working visit to Eritrea last August.

Prime Minister Abiy Ahmed and his Israeli counterpart Benjamin Netanyahu discussed regional issues over telephone conversation.

The Premier congratulated the Israeli Prime Minister Benjamin Netanyahu for the historic agreements reached between Israel, the UAE and Bahrain.

During their conversation, Abiy said that Prime Netanyahu had pioneered a historic step that will only be truly appreciated by future generations.

Leaders of the two countries also conferred about ways of assisting Ethiopian Jews in making aliyah.

The two leaders also discussed the possibility of further developing agriculture cooperation, as well as increasing Israeli aid to Ethiopia, according to Jerusalem Post.

Prime Minister Dr Abiy Ahmed this morning received Josep Borrel Fontelles, the High Representative of the EU for Foreign Affairs and Security Policy/Vice President.

According to office of the Prime Minister, the two discussed bilateral and regional issues of mutual interest.

Josep Borrell also attended a handover ceremony of 1.4 million test kits to the Africa Centre for Disease Control and Prevention (Africa CDC).

The kits were delivered through EU Humanitarian Air Bridge flight as part of the EU’s global response to the COVID-19 pandemic, worth over €26 million, with contributions from the EU, Germany, Austria, Spain, and Sweden.