ADDIS ABABA – President Shalework Zewde said that the government will be taking series measures to tackle the impact of Novel Coronavirus (COVID-19) on the national economy and to keep the momentum of the economic progress in the 2013 Ethiopian year. Opening the Joint Session of the House of People’s Representatives and the House of Federation yesterday, Shalework indicated that the government has also put in place a vision that will help to revitalize the economy after the pandemic ends. As COVID-19 introduces new ways of doing things, the nation is desirous of exploiting opportunities that could be resulted from the pandemic.
The President indicated that despite the numerous challenges that COVID-19 has posed in the overall economy, the government has managed to provide three million jobs in the 2019/ 20 fiscal year and enhance the economic participation of Ethiopians abroad. It has taken measures in terms of financing bailout through state budget and the banking system to ease the enormous pressure exerted by the breakout of the pandemic.

She noted that the government has also significantly improved project administration to expedite the completion of several delayed development projects thereby addressing one of the major sources of public dissatisfaction.
It has attempted to increase the area of farmland cultivated to boost agricultural crop production; improved export earnings and preceded in planting five billion seedling countrywide to shore up efforts to make Ethiopia’s agricultural development environment- friendly and sustainable.

President Shalework emphasized that in the 2020/21 fiscal year, efforts will be concentrated on developing tourism, improving quality of education and health service delivery.
Expanding irrigation, agricultural mechanization, land consolidation and increasing power generation through the completion of the two turbines of the Grand Ethiopian Renaissance Dam (GERD) as well as expediting the completion of development projects are also part of the vision.
With regard to macroeconomic policy, the President said that tight monetary and fiscal policy will be formulated to bring down the soaring inflation to a single digit. She also reiterated that tourism attractions developed in Addis Ababa will be replicated in Gorgora, Wonchi and Koisha in Amhara, Oromia and SNNP states respectively.
Reflecting on the President’s remark, Senior Macroeconomic Advisor to the Prime Minister, Mamo Mihretu said that Ethiopia’s current status as front-runner in realizing fast economic growth is all down to the macroeconomic reforms that have been put in place for the past two and plus years.