Minister of Finance, Ahmed Shide has announced that Ethiopia’s comprehensive economic reforms have successfully transitioned the nation from severe macroeconomic strain to becoming one of Africa’s fastest-growing economies.

According to the Minister, the country’s financial landscape seven years ago was defined by heavy debt burdens, foreign-exchange shortages, and market instability. In response, the government implemented the first and second Home-Grown Economic Reform programs to establish modern institutions and innovative revenue strategies.

The Minister highlighted significant growth in national resource mobilization since the start of the reforms:

Total Government Revenue: Increased by 446 percent compared to 2010 levels.

Tax Revenue: Witnessed a 400 percent increase.

Overall Inflow: Including external sources, total revenue has grown fivefold.

External Resources: A total of $25 billion USD has been mobilized over the past seven years.

The report also indicates a shift in fiscal management and social spending. The national budget allocated to poverty-focused sectors has quadrupled compared to its 2010 level.

Additionally, the government has successfully narrowed the fiscal deficit. Minister Ahmed confirmed that the deficit was reduced from 2.5 percent in 2010 to 0.9 percent in 2017, signaling a move toward greater market stability and institutional efficiency.