"Whether we like it or not, it's the right decision!" Mr. Ermias Amelga about foreign currency

"Whether we like it or not, it's the right decision!" Mr. Ermias Amelga about foreign currency.

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The full implementation of the macroeconomic policy enabled the mobilization of more than 27 billion dollars - Ministry of Finance

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Minister of State for Finance Ayob Tekalin (Dr.) stated that Ethiopia has fully activated its macroeconomic policy and has been able to collect more than 27 billion dollars from various financial sources. 

The government has recently announced that it has started the implementation of the macroeconomic policy in a complete manner in order to achieve continuous growth and ensure the universal benefit of the citizens. 

Minister of State for Finance Ayob Tekalin (Dr.) briefed journalists on the implementation of Ethiopia's complete macroeconomic policy.

At the same time, he reminded that the government has been working with determination to solve the economic, social and political problems accumulated before the national revolution.

He mentioned that various reforms have been carried out regularly to build a stable macro-economy by solving the economic crisis.

He also stated that it is timely and reasonable for Ethiopia to fully activate its macroeconomic reform policy.

He added that the policy is crucial to carry out effective operations in all fields and solve the economic crisis in a sustainable way.

He said that the improvement works being done to bring Ethiopia's economy to the desired level are achieving results.

He explained that following the implementation of the policy, more than 27 billion dollars have been collected from various financial sources.

He said that the resources obtained will be used for activities aimed at the poor and for the realization of initiatives to make Ethiopia one of the middle-income countries.

He also announced that the macroeconomic reform was not done simultaneously and that the necessary preparations for the policy reform, including finding resources, were being made.

He also explained that reforms in agriculture, mining, tourism and other sectors have created a great potential to improve the economic breakdown. 

He explained that the implementation of economic policy actually changes the lives of citizens. He also said that possible threats related to the implementation have been identified and resolved in advance.

They also mentioned that low-wage citizens and developmental safety net users should get better subsidies to prevent the risk of inflation due to the macroeconomic reforms. 

Remember that before the national change, Ethiopia was under heavy debt pressure; He said that with the economic reforms made by the government, it was possible to reduce the debt burden from over 30 percent to 17 percent.

He also pointed out that one of the legacy of the implementation of macroeconomic reform policy is the reduction of foreign debt burden. 

He explained that the implementation of the macroeconomic policy has allowed Ethiopia to reduce its debt and reduce its debt burden to a medium level. 

He said that the implementation of the policy will enable the proper collection of the income generated by the economy and cover the expenses with own income to carry out activities that will achieve the national goal.

ESA reports that Dr. Ayyob has announced that the activation of the macroeconomic policy will help to attract foreign direct investment by permanently solving the shortage of foreign currency that has been challenging Ethiopia.