Addis Ababa, October 6, 2026 (FMC) — Ethiopia’s multi-sectoral economic gains over the past five years have laid a strong foundation for future endeavors and strengthened the country’s economic sovereignty, President Taye Atske-Selassie said today.
Addressing the inaugural joint session of the House of Peoples’ Representatives and the House of Federation, President Taye said the economic measures undertaken over the past five years had created strong foundations for sustaining and advancing Ethiopia’s development trajectory.
He pointed to progress across agriculture, manufacturing, mining, export trade, foreign direct investment, tourism, digital infrastructure and the service sector as key drivers of the country’s economic growth.
The President said the government’s 10-year development plan and its multi-sectoral economic approach had generated significant results, while strengthened revenue collection under a tighter monetary and fiscal framework had enhanced the country’s domestic resource base.
He also highlighted the government’s decision to move away from unviable commercial borrowing and its increased capacity to accelerate the implementation of long-delayed major infrastructure projects, saying these measures helped prevent constraints in execution from obstructing economic growth.
According to President Taye, the progress recorded was also the result of overcoming longstanding weaknesses in implementation through new working methods, continuity and targeted execution.
He said the government had developed stronger implementation capacity and experience while encouraging broad public participation in development programs and projects, making government initiatives more effective.
The President cited several measurable economic achievements, including agricultural production reaching 1.3 billion quintals, compared with 335 million quintals seven years earlier; export earnings reaching $11.2 billion for the first time in Ethiopia’s history; foreign direct investment rising to $4.5 billion; and manufacturing industry growth reaching 15.8 percent.
He further noted that credit supply had expanded to 1.3 trillion birr, while improvements in monetary and fiscal management had contributed to containing inflation.
President Taye also highlighted the expansion of the country’s green development initiatives, urban greenery and corridor development, describing the results achieved in these areas, alongside agricultural productivity gains, as evidence of strengthened implementation capacity.
He said the achievements had been realized amid both internal and external pressures, demonstrating Ethiopia’s ability to sustain growth while confronting complex challenges.
“These results,” he said in his address, have strengthened Ethiopia’s capacity to withstand challenges and contribute to the broader effort to secure economic sovereignty.
The President stressed that the government’s economic efforts were not limited to overcoming immediate constraints, but were aimed at building enduring national capacity and creating a stronger foundation for future growth and prosperity.
He said Ethiopia was organizing its national strengths to safeguard enduring national interests and accelerate its development, while the achievements already registered in the economic sphere were strengthening the country’s national stature and sovereignty.
President Taye further emphasized that Ethiopia’s future economic progress would depend on deep strategic thinking, stronger execution capacity and the ability to identify challenges early and develop effective solutions.
He called for successful experiences recorded in green development, agricultural productivity, urban transformation and other sectors to be expanded across the country, developed further and transformed into national assets that could support faster growth in the years ahead.
The President also underscored the importance of strengthening people-centered development and ensuring broad public participation, saying this would make Ethiopia’s economic sovereignty and growth trajectory more reliable.
He expressed appreciation to the Prime Minister, members of the federal and regional governments, city administrations, public servants, private-sector leaders, professionals and the Ethiopian people for their contributions to the country’s development achievements.
President Taye said the results recorded over the past five years provide a foundation upon which Ethiopia can pursue a new phase of accelerated growth, greater national capacity and sustainable economic sovereignty.