Second Homegrown Economic Reform Needs Commitment, Coordination of Leadership, Says Planning Minister
The commitment and coordination of the leadership is crucial for the success of Ethiopia’s second Homegrown Economic Reform, Planning and Development Minister Fitsum Assefa said.
A discussion on the second phase of Ethiopia's Homegrown Economic Reform is underway in the presence of high officials.
Addressing the discussion, the minister stated that a second phase Homegrown Economic Reform plan which would be implemented from 2024 to 2026 has been prepared as additional national economic development plan is required to build a resilient economy that withstands new challenges.
Noting that one of the four pillars of the reform is strengthening and stabilizing the macro-economy, she said better resource mobilization and successful government spending and investment governance are given much attention in the plan.
The plan also focuses on sustainable debt management, realization of strict fiscal policy, financial sector reform and accessibility.
Improving the investment and business environment is the second pillar of the reform; while improved market accessibility, swift logistics service, and motivated macro-,small and medium enterprises as well as attracting quality FDI are crucial to realize the plan.
The third pillar of the reform focuses on increasing capacity, productivity and competitiveness of sectors, giving priority to improve agricultural productivity and investment, better housing and construction development and investment, it was pointed out.
Also, better mining productivity and investment, boosting export trade, image building, and tourist destination development as well as boosting digital economy are in the plan.
Developing implementation capacity of the government is the fourth pillar of the economic reform. Creating capable and productive civil service, providing better service by overcoming maladministration, implementing coordinated civil service digital information management are vital to realize the plan, the minister stated.
Fitsum finally urged the leadership to work with full commitment and coordination in increasing developmental finance, creating favorable investment climate, modernizing market, boosting production and productivity, and overcoming maladministration by modernizing the service to realize the reform.
Source: Ethiopian News Agency