Second phase of homegrown economic reform under preparation

Addis Ababa, December 2, 2022 (FBC) – Planning and Development Ministry announced that the second phase of the Ethiopian homegrown economic reform is under preparation with a view to tackle bottlenecks seen during the implementation of the first one.

Planning and Development and Finance Ministries deliberated on the progress of the groundwork for the second phase of the economic reform.

It is stated on the occasion that Ethiopia has registered remarkable growth in the agriculture, mining, tourism and finance sectors led by the first homegrown economic reform.

Inflation, Covid 19 pandemic, the conflict in the northern part of the country and the Russia-Ukraine war were cited as major bottlenecks in the country phased over the last years.

The Planning and Development Minister, Fitsum Assefa stressed need to develop the second phase of the reform in commensurate with the three year investment plan of the government effective from 2024-2026.