The economic policy of Ethiopia has undergone significant changes over the years. Since the 1990s, the country has moved towards a market-oriented economy, with a focus on economic liberalization, privatization, and deregulation. The government has also implemented various policies aimed at promoting economic growth, reducing poverty, and promoting foreign investment.
One of the key policies implemented by the Ethiopian government is the Growth and Transformation Plan (GTP), which was launched in 2010 and has since been replaced by the current plan, the Home Grown Economic Reform Agenda.
The GTP aimed to achieve an average annual economic growth rate of 11% over five years, with a focus on creating jobs and reducing poverty. The plan focused on boosting the agricultural sector, expanding infrastructure, and promoting foreign investment. It also aimed to increase access to education and healthcare and promote gender equality.
The Home Grown Economic Reform Agenda, launched in 2019, aims to address structural issues in the economy, such as inflation, foreign exchange shortage, and low productivity. The agenda includes various measures to deregulate the economy, promote private sector development, and boost exports.
Overall, the economic policy of Ethiopia has been aimed at promoting economic growth, reducing poverty, and promoting foreign investment. Ongoing efforts to reform the economy are expected to bring about sustainable economic growth and development.
economic policy of Ethiopia
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