FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers New TRADE AFRICA New

Fortune Logo
Finance Minister Ahmed Shide (left) and Seleshi Bekele (PhD) (centre), minister of Water, Irrigation & Energy, walk President Sahle-work Zewde out as she leaves the hall of the United Nations Economic Commission for Africa (UN-ECA) on Menelik II Avenue.

Finance Minister Ahmed Shide (left) and Seleshi Bekele (PhD) (centre), minister of Water, Irrigation & Energy, walk President Sahle-work Zewde out as she leaves the hall of the United Nations Economic Commission for Africa (UN-ECA) on Menelik II Avenue. She has just opened a meeting with diplomats based in Addis Abeba to discuss the 10-year national development plan drawn up by the Planning & Development Commission.

“After many years of economic growth, we still face staggering economic challenges,” the President said, standing behind the dais inside the ECA’s main hall, addressing spread out crowd of seated diplomats.


The President left the meeting shortly after the speech, leaving the platform to Fitsum Assefa (PhD), head of the Planning Commission. She went into great detail briefing the diplomats on the country's structural challenges, the lessons it has learned, and the path forward the government has in mind.

“Considering our challenges with low productivity and competitiveness, the countries and institutions these diplomats represent can support us,” Fitsum told the media.



Recently, the Commission has released the document outlining the much-anticipated plan. While it sees a different path to development than government-centric growth, like the Growth & Transformation Plans (GTPs), it is just as ambitious. On the macroeconomic front, it plans to reduce annual inflation to seven percent, expand the gross domestic product (GDP) to 10pc every year and further reduce the economy’s dependence of the agricultural sector.

The plan, drawn up after each ministry prepared their own, has been criticised for not being sufficiently inclusive, but it is now being moved by the Commission into the next stage. The agency is preparing guidelines for implementation, monitoring and evaluations. It also answered a question diplomats emphasised — whether regional states would also develop their own plans, citing that decentralisation remains among the Commission's focuses.



PUBLISHED ON Jan 30,2021 [ VOL 21 , NO 1083]

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.



Related Posts

Editors' Pick

Exclusive Interviews

State Enterprises from Oracles to Apprentices

Dec 22 , 2024 . By TIZITA SHEWAFERAW

Charged with transforming colossal state-owned enterprises into modern and competitiv...

Agenda

Rising Costs, Inflation Threaten Insurance Industry

Aug 18 , 2024 . By AKSAH ITALO

Although predictable Yonas Zerihun's job in the ride-hailing service is not immune to...

Agenda

BREWING DISCONTENT

Jul 28 , 2024 . By TIZITA SHEWAFERAW

Unhabitual, perhaps too many, Samuel Gebreyohannes, 38, used to occasionally enjoy a couple of beers at breakfast. However, he recently swit...

Fortune News

Electric Vehicle Push Leaves Investors in the Lurch

Jul 13 , 2024 . By AKSAH ITALO

Investors who rely on tractors, trucks, and field vehicles for commuting, transporting commodities, and f...

Commentaries

Container Ships Keep Global Trade Afloat While the World Looks Away

Shipping is often overlooked as a foundation of global trade. Consumers easily recogn...

Climate Displacement Is Also a Health Crisis

Every year, 21.5 million people are forcibly displaced by floods, droughts, wildfires...

Fineline

Leaders of the National . . .

Leaders of the National Election Board are in a charm offensive mood, of a sort. Last week, they organised a rare tour for members of the me...

When the country’s most. . .

When the country's most senior diplomats and envoys return back to their posts after two-week debriefings, they leave behind a point or two...

Editorial

Addis Abeba's Costly Pursuit of Prosperity Bulldozes Dreams on Bargain Prices

Feb 1 , 2025

Urban renewal is seldom gentle to those on the receiving end of redevelopment. Take s...

Birr in Tumble, Reform Rhetoric Meets Bitter Economic Realities

Jan 25 , 2025

Grand ambitions have long driven Ethiopia's successive leaders, but they remain weigh...

Breaking the Chains to Protect the Vulnerable During Painful Reforms

Jan 18 , 2025

Adanech Abebie, the mayor of Addis Abeba, addressed last week a warm-up session for h...

Banks Struggle to Lend as Branches Bloom, Coffers Wither

A severe cash shortage squeezes the economy, and the deposit-to-loan ratio has slumpe...

Gallery

Parliament Approves New Cabinet Members

Oct 6 , 2021

Parliament Approves New Cabinet, Incorporates Opposition Leaders Lawmakers have approved today the nominations of 22 ministers, including three opposition leaders. Two MPs have voted against, while 12 abstained...

2020 in Posterity

Jan 5 , 2021

TIGRAY VOTES DESPITE "NULL & VOID" THREAT

Sep 9 , 2020

IN-PICTURE: LAUREATE'S RECEPTION  

Dec 14 , 2019

PM Abiy Ahmed (PhD) at a Gala Dinner Called for the Awarding of the Félix Houphouët-Boigny Peace Prize

May 6 , 2019

Faces, Voices of Addis Abeba

Apr 26 , 2019

Sunday With Eden

The Vanishing Reverence for Marriage

Marriage is meant to be a lifelong bond, built on love, trust, and commitment. It is...

Wash Hands, Save Lives

In a world scarred by health crises like COVID-19, one might expect handwashing to be a universal habit. Yet, many still neglect this simple...

Life Matters

When Taxi Rides Become Unexpected Fare Collection Hassles

There was a time when taxi rides were moments of peaceful relaxation. I would lean back, sometimes fall a...

Breaking Stereotypes, Redefining Masculinity for a Just Society

A recent altercation in my neighbourhood has made me reflect on the complexities of conflict, especially...