Ethiopia Registering Promising Progress on All Fronts: Prosperity Party

Addis Ababa, April 26, 2025 (ENA) -- The Executive Committee of Ethiopia’s ruling Prosperity Party (PP) declared that the country has been demonstrating promising progress across political, economic, social, and diplomatic fronts.

In its regular meeting held in Addis Ababa from April 25 to 26, the Committee conducted a comprehensive review of the nation’s political, economic, social, and diplomatic developments.  

In a statement it issued today, the party noted that significant political and diplomatic achievements have been registered after the Second Regular Meeting of Prosperity Party.   

Ethiopia has embarked on a new chapter in its political landscape through inclusive consultations with political parties and stakeholders, it stated, adding that the preparation for national dialogue and the gathering of agendas have been successfully completed across all regions, except one.

Highlighting the efforts dedicated to ensuring peace and stability, the Executive Committee emphasized that peace is gradually returning to areas that were previously unstable, and this positive development is further supported by an increasing number of surrendering militants and responses to the government’s peace call.

The controversy with Somalia was diplomatically resolved, and the stand taken on the need for Ethiopia to gain access to sea is gaining increasing international acceptance, the Committee said.

On the economic front, the country's relationship with international financial institutions has not only been improving but the support it receives has been increasing.

 

The Executive Committee projected a national growth rate of 8.4 percent for the current Ethiopian year, driven by strong performance in agriculture at 6.1, industry at 12.8, manufacturing at 12, construction at 12.3, and services at 7.1 percent across the sectors.

Government revenue has also surged by 134 percent over the past nine months. The external debt-to-GDP ratio has dropped to 13.7 percent.

Furthermore, export earnings from key commodities such as wheat, rice, coffee, tea, and fruits have grown significantly, ranging from 82 percent to 386 percent, indicating strong performance in the sectors.

In the past 9 months alone, 344,790 foreign jobs and over 3 million domestic jobs have been created. The number of remote job opportunities has also been increasing.

Another notable highlight is the performance of Ethiopian Investment Holdings, which recorded 1.5 trillion Birr, marking an impressive 86 percent surge compared to the same period last year.

According to the statement, this demonstrates effective wealth creation and prudent financial management.

Foreign exchange reserve grew by 203.99 percent when compared to the same period last year, and bank deposits exceeded 3 trillion Birr. Export performance for the 9 months exceeded 5 billion USD, which brought a growth of 150.39 percent.

There is a significant progress in digital transformation and the nation now boasts of 50.2 million internet users, 86.6 million mobile subscribers, and over 52.5 million Tele Birr users. Digital transactions jumped over 12.51 trillion Birr during the past 9 months.

Moreover, the statement emphasized that infrastructure development remains a national priority and major projects are being completed as per the plan.

The execution of the Grand Ethiopian Renaissance Dam has reached 98.66 percent, and progress is being made on additional hydropower projects. Besides, nationwide corridor developments and irrigation dam projects are advancing.

Social support programs have been expanded to provide a buffer for vulnerable populations amidst ongoing macroeconomic reforms with allocations of 62 billion Birr for fertilizer, 41.2 billion Birr for the safety net program, 60 billion Birr for fuel subsidies, and significant funding for health and basic goods.

Education and health are receiving renewed focus through the "Education for Generation" initiative, with over 82 billion Birr mobilized for the construction of 6,815 schools, notably the improvement of efforts to rehabilitate schools affected by conflict, the statement underlined.

The Executive Committee also pinpointed that Ethiopia is increasingly becoming a destination for tourists and international events, having hosted 66 global gatherings in just nine months. Development of sports infrastructure, including international-standard stadiums, is underway to facilitate the hosting of major African events.

The efforts to revitalize industries, encourage import substitution, and optimize land use are propelling the nation toward greater economic self-reliance. Notably, the number of people requiring humanitarian assistance has decreased by 86 percent over the past five years, with nine regions now capable of meeting their own relief needs, according to the statement.

The Prosperity Party finally emphasized that these milestones signify the commencement of a new chapter, rather than its conclusion, and serve as compelling evidence that Ethiopia is firmly on a trajectory toward long-term prosperity.