ADDIS ABABA, March 20 (Xinhua) -- Ethiopia's economy is projected to grow by more than 8.4 percent in the current 2024/2025 Ethiopian fiscal year, which began on July 8, Prime Minister Abiy Ahmed said on Thursday.
Responding to questions from members of the House of Peoples' Representatives, the lower house of Ethiopia's parliament, Abiy said the country's growth for the fiscal year could surpass the anticipated 8.4 percent due to significant achievements recorded in major economic sectors over the past eight months.
Recalling that Ethiopia's economy grew by 8.1 percent last fiscal year, Abiy said the country's gross domestic product (GDP) growth is far higher than the average growth rate in sub-Saharan Africa.
The agriculture sector contributed significantly to the overall economic expansion, he said, adding that the inflation rate declined to 15 percent from 29 percent in the previous fiscal year.
According to the prime minister, Ethiopia has become the leading wheat-producing country in Africa, created more than 3 million jobs, and earned 4.5 billion U.S. dollars from export trade over the past eight months. ■
