Ethiopia’s new proposal sets to transform economy

Global Business

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The Ethiopian government has launched the second phase of its ambitious growth and transformation plan.

The plan is expected to transform the nation’s agrarian economy into an industrial one in the next five years. Poverty reduction and good governance are also at the center, as CCTV’s Girum Chala filed this report from Addis Ababa, Ethiopia.

Ethiopia's new proposal sets to transform economy

Ethiopia's new proposal sets to transform economy

The Ethiopian government has launched the second phase of its ambitious growth and transformation plan. The plan is expected to transform the nation's agrarian economy into an industrial one in the next five years. Poverty reduction and good governance are also at the center, as CCTV's Girum Chala filed this report from Addis Ababa, Ethiopia.

More details:

  • Sustaining the robust economic growth, accelerating the transformation of the agricultural-led economy to industrial-led economy, strengthening the manufacturing sector to play a leading role in the industrial development and solving problems of good governance will be the main focuses of growth and transformation plan.
  • For Ethiopia, the last five years under the first chapter of the growth and transformation plan were full of success stories. The Ethiopian parliament is expected to approve chapter two of the ambitious plan soon. The economic transformation is expected to be ensured by making the manufacturing sector contribute 8 percent to the total economic growth of the country during the second period.