ADDIS ABABA, Oct. 7 (Xinhua) -- Ethiopia will see an economic growth of 9 percent in the 2025/2026 fiscal year, President Taye Atske Selassie has said.
Ethiopia's economy showed strong performance last fiscal year, registering 8.8 percent growth, Atske Selassie told a joint session of the House of Peoples' Representatives, the lower chamber of the parliament, and the House of Federation in Addis Ababa, the capital, on Monday.
"This year, the government will consolidate and raise the growth rate to 9 percent through strengthening macroeconomic stability and broadening growth across key sectors," the president told the session, which was broadcast live.
The current Ethiopian fiscal year started on July 8.
A series of major initiatives, including a large-scale fertilizer production plant, will be operational to revolutionize farming practices and help the country achieve food self-sufficiency, Atske Selassie said.
Noting that Ethiopia earned a record 8.3 billion U.S. dollars from exports during the last fiscal year, the president said the government will diversify its economic foundations to support export business and strengthen economic growth.
Tourism development will also remain a key priority, with plans to expand tourist destinations, preserve cultural and natural heritage, and enhance air transport infrastructure to improve accessibility and global competitiveness, Atske Selassie said.
The government will also strive to strengthen critical sectors such as irrigation, water, energy, and transport, and expand roads, air and rail networks, and logistics systems to sustain the country's economic momentum, he said. ■
