Ethiopia has seen economic growth since the implementation of reforms, surpassing the previous challenges, according to Ethiopia's Planning Minister, Fitsum Assefa.
Diverse economic sectors helped Ethiopia navigate challenges like the pandemic and climate change, making it a leading economy in East Africa, the minister said.
National reforms addressed macroeconomic imbalances, increasing revenue, she said, noting that previously debt-burdened, Ethiopia now avoids commercial loans, repaying a $10 billion loan in five years and reducing its debt-to-GDP ratio from 30% to 13.7%.
With foreign investment averaging $3 billion annually and growth across key sectors, reforms since July 2024 have improved foreign currency flows, according to Fitsum. The government also stabilized the foreign exchange market and allocated approximately $3 billion for subsidies to support low-income households during reforms.