Ethiopia’s exports to Japan register growth

(3 minutes read)

·        Ethiopia’s exports clocked US $769.9 million in the first quarter of the Ethiopian fiscal year, which started on July 7, 2020

·        Ethiopia’s economy has been growing at a double-digit growth rate for several years.  It has also achieved a growth of 6.1 percent in the 2019-20 fiscal year, despite the pandemic, thanks to the ongoing Homegrown Economic Reform and fiscal policy adjustment

Ethiopia’s exports clocked US $769.9 million in the first quarter of the Ethiopian fiscal year, which started on July 7, 2020. Exports have  shown an increase of US$46.9 million compared to the same quarter last year.

Eyob Tekaligh, State Minister of Finance, made this  announcement while presenting a three-month performance report.   He added that Ethiopia’s export performance has exhibited growth in the past two consecutive years.

Ethiopia’s economy has been growing at a double-digit growth rate for several years. It has also achieved a growth of 6.1 percent in the 2019-20 fiscal year, despite the pandemic, thanks to the ongoing Homegrown Economic Reform and fiscal policy adjustment.

The federal government plans to raise 325.2 billion Birr from domestic sources  and by way of  direct budget support from international organizations.  Close to 75.1 billion Birr was already collected from tax and non-tax revenues in the past three months of the current budget year. Ethiopia’s economy is expected to grow by 8.5 percent during the current fiscal year.