Addis Ababa: Prime Minister Abiy Ahmed stated that the government’s primary goal in the coming years is to bring inflation down to single digits. In response to questions from the House of People’s Representatives about the escalating cost of living, the Prime Minister acknowledged that inflation is a challenge faced by many countries globally, including Ethiopia.

According to Ethiopian News Agency, the Prime Minister emphasized that while the government has undertaken numerous initiatives to tackle inflation, ongoing international complexities continue to pose significant challenges. He identified increased production and productivity as key solutions to mitigate inflation in Ethiopia.

Abiy highlighted the significant advancements in the agricultural sector, particularly in wheat production, due to the government’s decisive actions. He stressed the importance of modernizing the business system as a critical factor in reducing inflation. Additionally, the Prime Minister underscored the need to support vulne
rable populations, reiterating the government’s commitment to reducing inflation to single digits.

He noted that inflation has been considerably reduced in recent years and assured that efforts to curb it will persist. With the current inflation rate at 17 percent, Abiy affirmed the government’s determination to lower it substantially.

Prime Minister Abiy also disclosed plans for the country to achieve 8.4 percent economic growth in the current Ethiopian Fiscal Year.