ECONOMY
Ethiopian leader Abiy Ahmed urges hard work and prudence
Addis Ababa — Ethiopia had to work harder to attract foreign investment and boost international trade, Prime Minister Abiy Ahmed said on Friday as he pushed a fundamental overhaul of how the nation is run. With frankness that has become characteristic since he took office in April, Abiy said in a parliamentary budget debate that the economy grew slower than expected in the 2017-18 year and export earnings were falling far short of targets. "We need to work [so that] investors have full confidence in the country," he said. The government had to be more prudent in its spending. Parliament passed the 346.9-billion Ethiopian birr ($12.71bn) budget for 2018-19, representing a spending contraction in dollar terms on 2017’s budget. Abiy has launched peace talks with neighbour and sworn enemy Eritrea, lifted a state of emergency and promised to open up the government-dominated economy partially by attracting foreign capital to the state telecoms company and airline. He has also criticised s...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.