ADDIS ABABA — The Ethiopian government will ramp up measures against illegal economic activities to support the country's macroeconomic reform efforts, announced Legesse Tulu, Minister of Government Communication Service (GCS), today.

According to Ethiopian News Agency, the comprehensive macroeconomic reforms, which target longstanding economic structural issues like foreign exchange distortions and macroeconomic imbalances, are poised to foster substantial economic growth. During a media briefing on the progress of these reforms, summer activities, and other national matters, Legesse detailed the successes of 2023 across tourism and summer irrigation agriculture, among others. He praised the developmental initiatives in various corridors as sources of national pride and benefits to citizens.

Legesse emphasized that despite facing both external and internal challenges, the Ethiopian economy has shown resilience and achieved sustainable growth. He remarked that the reform initiatives are essential for ensuring inclusive growth, enhancing the efficiency and competitiveness of sectors, and improving government revenue collection and project effectiveness. The Minister acknowledged the overall compliance within the business community regarding the reforms but pointed out that some entities have resorted to unjustified price hikes and product hoarding, driven by illegal and selfish motives.

The government, he asserted, will strengthen its monitoring to ensure compliance and accountability. Legesse also called on the business community to desist from illegal activities, clarifying that the reform measures directly address the concerns previously raised by them about the economic environment. Additionally, he highlighted the government's ongoing efforts to maintain law and order, ensure public safety, and facilitate dialogue with armed groups for national peace and security.