The wisdom taught us by our Ethiopianess is not to be overcome by temporary obstacles but rather to change the trials we face into opportunities and desirable accidents and achieve victory.
- H.E. Abiy Ahmed
Ethiopia’s economy has registered a decade of rapid and stable growth. Real GDP growth has averaged about 10 per cent over the last decade. The poverty rate declined substantially from 55.3% in 2000 down to 26 percent in 2016. However, Ethiopia still faces significant development challenges.
In response to unprecedented public pressure, Ethiopia is undergoing national renewal. Ethiopians demand for democracy and respect for basic rights is evident. Pervasive human rights violation, an environment that made it impossible for civil society and political parties to function, weak democratic institutions
The world is undergoing a fourth industrial revolution at an unprecedented rate. Ethiopia must proactively embrace it to ensure our communities benefit, and our youth succeed in the new world. Ethiopia is yet to realize its potential in the digital space and leverage technology to build a more prosperous society. Urgent, bold, and coordinated action is needed so we can make this transformation successful. Leveraging these digital opportunities demands a new mindset and leadership style from the Government. Like many new and mostly unknown opportunities, there are risks to mitigate and lessons to be learnt to ensure our future is safe and inclusive. Inclusively realizing new opportunities demands learning, collaboration, and partnerships, both within and beyond Ethiopia. This strategy is a first step and a call to action.
Ethiopia’s Homegrown Economic Reform Agenda is a well-coordinated response and blueprint to propel the country’s economic progress. This agenda, crafted through a process of taking stock of our successes; an in-depth review of key bottlenecks and design of adequate remedies, outlines macro-economic, structural, and sectoral reforms that will pave the path for jobs and inclusive growth.
Improving Ethiopia’s investment climate is a key part of Ethiopia’s New Horizon of Hope Action plan for Jobs. Ethiopia has the demographic dividend, demand, and a committed government. Ethiopia has also invested significantly in physical infrastructure in the past two decades.