Ethiopia’s National Planning Commission has said the second Growth and Transformation Plan aims at maintaining the rapid and sustainable economic development, and bringing forth structural transformation of the economy.
In a press conference held on the premises of the Commission recently, Commissioner Yinager Dessie (Ph.D.) said that GTP II would cause an 11 percent economic growth for the next five years, on the country’s already developing and robust economy, a huge feat considering the state of the global economy.
“The agriculture sector still plays an important role in achieving this feat, and to this end the sector should bring sizeable change in production and productivity in the next five years,” he said.
According the commissioner, the aim is to transform the agrarian economy of the country to industry-led one with the manufacturing sector getting huge attention in the plan period.
“Manufacturing-driven industrial development will take huge chunk of attention in the next five years, given its role in facilitating the economy’s structural transformation and our export performance,” he added.
The Commissioner highlighted plans to give attention to the local private sector through engaging them in the sector, adding that the government will build industrial parks, and provide loan services to encourage the manufacturing sector.
Commissioner Yinager also pointed out the importance of utilizing domestic resource to achieve sustainable development, adding in this regard, the plan’s aim is to improve revenue collection and saving.
“Many of the mega projects that are on GTP II demand huge amount of resource and budget, and we should be able to optimally utilize our resources,” he said.
In parallel to this, the plan has also designed a direction to weaken rent-seeking and other forms of good governance problems so as to make the economic protagonists and economic activity of the country healthy.
Source: All Africa