President Taye Atske Selassie announced significant economic milestones during his parliamentary address, confirming that the national economy achieved a 9.2 percent growth rate in the past 2017 Ethiopian Calendar year (E.C.) fiscal year. 

Agricultural production soared to 1.57 billion quintals, marking a 24.7 percent increase from the previous year, while industrial capacity utilization grew to 65.02 percent. Key sectors like gold production skyrocketed from 3.9 tons to 38.87 tons, and cement production increased to 9.1 million tons. 

Export earnings achieved a historical high for the first time, generating $8.3 billion, representing a remarkable 115.8 percent increasefrom the prior year. 

The President also highlighted successes in fiscal management and welfare, noting that continuous efforts to curb the high cost of living reduced inflation to 13.9 percent, and the government raised the minimum wage for civil servants from 4,760 Birr to 6,000 Birr. 

Furthermore, total bank credit reached 822.8 billion Birr, with 77 percent channeled to the private sector, and, notably, the government concluded the 2017 E.C. budget year without borrowing any direct credit from the National Bank for the first time.