The Ministry of Trade and Regional Integration revealed that the African Trade Ministerial Council has accepted Ethiopia's proposal to trade 5,700 goods, constituting 90% of products, within the African Continental Free Trade Area (AfCFTA).
Redwan Hussein, Head of Government Communication Affairs Office (GCAO), disclosed the Ethiopian government will not make a significant devaluation to birr against the major currencies.
During the second phase of the Growth and Transformation Plan (GTP II), which runs from 2015 to 2020, Ethiopia is going to spend a total of USD 20 Billion Birr on its power development program.
Ethiopia's Ambassador to Russia, Cham Ugala Uriat, has made an announcement regarding the country's plans to manufacture Russian Lada cars specifically for the African market.
Following the severe drought that hit Ethiopia, the country will not be able to meet its projected 11 % economic growth for the current fiscal year. It will expand only by between 7% and 10%.
Prime Minister Hailemariam Dessalegn noted, “The economy will continue to register growth, if not a double-digit fast economic growth”.
