The World is Watching Ethiopia’s Economic Transformation

June 17, 2018

During the opening of the Ethiopia Delivers National Summit yesterday, Prime Minister Abiy Ahmed described how structural reforms and digital initiatives like, Fayda are strengthening the economy and fostering citizen inclusion, while acknowledging that sustained effort is required to address ongoing challenges in household purchasing power.

The Prime Minister highlighted landmark achievements, including the construction of the Grand Ethiopian Renaissance Dam and sweeping reforms designed to accelerate growth while laying strong foundations for future generations.

Inflation, once above 30 percent, has sharply declined, even reaching single digits earlier this year. Exports are climbing toward historic levels, and the economy is projected to expand by 10.2 percent this fiscal year, the fastest growth rate on the continent.

Prime Minister Abiy underscored that these outcomes are the result of deliberate, often difficult choices. He illustrated the human impact of reform through the story of a woman entrepreneur who, by enrolling in Ethiopia’s national digital ID system, gained access to finance and formal recognition. “She didn’t change. What changed was access,” he noted, stressing that millions are now benefiting from new opportunities.

The summit explored reforms strengthening macroeconomic stability, the role of productive cities, digital transformation, agriculture, mining, and infrastructure. Acknowledging that challenges remain, Prime Minister Abiy urged that nation‑building requires shared responsibility across government, markets, and communities.

“The world is watching Ethiopia’s transformation,” he concluded. “Our duty is clear, to expand opportunity, build lasting strong institutions, and leave the nation stronger than we found it.”