Ethiopia’s economy grows by 6.1% despite COVID-19 pandemic

2 Nov 2020

Prime Minister Abiy Ahmed addressed the 6th Extraordinary Session of the House of Peoples’ Representatives (HPR) in the final week of October 2020. The session approved a motion in support of the 2020/21 government’s plan presented by President Sahle-Work Zewde during the joint session of the two Houses early in October.

In his address, Prime Minister Abiy described 2020 as a tough year which severely affected the global economy, disrupting the normal way of life and communications as well as causing a rise in unemployment.

Despite these challenges, the Prime Minister said Ethiopia has managed to register 6.1% economic growth which, he says, is a result of the government’s measures to save the economy from the severe effects of the COVID-19 pandemic.

Contrary to the measures taken in many parts of the world and some parts of Africa, the Prime Minister added that “the practical realities and contexts in Ethiopia entail that we could not enforce lockdown in our country in a bid to stem the adverse effects of the pandemic.” This he said, has helped save the economy. Ethiopia’s measures taken in the fight against the COVID-19 pandemic, while at the same time putting in place efforts to save the economy, brought forth encouraging results.

In addition, the Prime Minister said encouraging results have been registered in terms of the concerted campaign on debt relief and loan restructuring. He also took note of the support from the Jack Ma Foundation dedicated to the fight against the COVID-19 pandemic. In this regard, the PM highlighted Ethiopia’s leading role and its service as Africa’s hub and of the commendable contributions of Ethiopian Airlines, which demonstrated its Pan-African commitment in distributing medical supplies and medical equipment to African nations.

The Prime Minister also said Ethiopia managed to register a record $107.4 billion GDP and a per capita income of more than $1,000 in the past Ethiopian year. “If we can sustain these growth trajectories over the coming years, we will be able to ensure Ethiopia’s prosperity,” he added.

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