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Our economic approach has achieved strong double-digit growth - Prime Minister Abiy (PhD) 

Addis Ababa, April 12, 2018 (FMC) Prime Minister Abiy Ahmed (PhD) said that the new economic approach we have achieved has achieved strong double-digit growth in a short period of time.

In a statement released on his social media page, the Prime Minister said; This morning, we have begun to review the performance of the government in the third 100 days of his term, alongside the overall performance of the nine months.

He said that the economy has been able to move away from a growth-unfriendly and weak institutional and political framework, limited private sector participation, and an ineffective regulatory environment.

The Prime Minister said that the private sector was in a weak competitive position; it is known that a large number of business institutions under the government were also operating below capacity due to high debt burdens. 

He said that we have adopted a new dynamic political economy approach that responds to the current situation, which has been highly vulnerable to climate change due to declining productivity. 

He said that the new economic approach we have adopted has achieved strong double-digit growth in a short period of time. 

He noted that the economy is currently growing at 9.2 percent; it is expected to grow to 10.2 percent next year. 

We will continue to work hard to achieve our goals in each sector; 7.9 percent in agriculture, 13.2 percent in industry, and 9.3 percent in services will be achieved without interruption. 

‎This effort demonstrates our position and ability to implement to build a more resilient, competitive and inclusive economy, he said in his message.