Addis Ababa: The Executive Committee of Ethiopia’s ruling Prosperity Party (PP) announced that the country is making promising strides in political, economic, social, and diplomatic areas. In a regular meeting held in Addis Ababa from April 25 to 26, the Committee reviewed significant developments in these sectors.
According to Ethiopian News Agency, the Prosperity Party issued a statement highlighting the notable political and diplomatic achievements since its Second Regular Meeting. Ethiopia has engaged in inclusive consultations with political parties and stakeholders, completing preparations for national dialogue across all regions except one. Peace efforts have shown progress with militants surrendering and regions regaining stability. The diplomatic resolution of issues with Somalia and the international acceptance of Ethiopia’s need for sea access were underscored.
Economically, Ethiopia’s relationship with international financial institutions is strengthening, leading to increased support. The Executive Committee projected an 8.4 percent national growth rate, driven by agriculture, industry, manufacturing, construction, and services. Government revenue surged by 134 percent over nine months, and the external debt-to-GDP ratio reduced to 13.7 percent. Export earnings from key commodities rose significantly, and job creation in foreign and domestic markets was notable.
Ethiopian Investment Holdings recorded a substantial financial performance, and foreign exchange reserves grew by 203.99 percent. Bank deposits surpassed 3 trillion Birr, and export performance showed a 150.39 percent growth. Digital transformation marked significant progress with millions of internet and mobile users, and digital transactions increased substantially.
Infrastructure development remains a priority, with major projects near completion. The Grand Ethiopian Renaissance Dam reached 98.66 percent execution, and additional hydropower projects are advancing. The statement also highlighted improvements in social support programs, with substantial allocations for various subsidies and health initiatives.
Education and health are prioritized under the “Education for Generation” initiative, mobilizing over 82 billion Birr for school construction and rehabilitation. Ethiopia is also becoming a hub for tourism and international events, having hosted numerous global gatherings and advancing sports infrastructure.
Efforts to revitalize industries and encourage import substitution are fostering economic self-reliance. The need for humanitarian assistance has decreased by 86 percent over five years, with nine regions meeting their relief needs independently.
The Prosperity Party emphasized that these milestones mark the beginning of a new chapter for Ethiopia, signifying a path toward long-term prosperity.