Country Is Indeed Rising Fast!

OPINION

By Mulualem Denbegna

Recently, we heard with pride and joy that Ethiopia has been placed the 1st of the 10 fastest growing economies in the world. This indeed is pleasant news to all Ethiopians, who have been eagerly waiting and practically working in unison to ensure the inevitable renaissance of Ethiopia.

According to a confirmation given by several international and continental financial institutions including the International Monetary Fund (IMF), Ethiopia's economy grew by 10.3 per cent over the past year making the country the first of Africa's top performing economies and this strong growth is expected to continue in 2015 and 2016. According to IMF, after a decade of continuous expansion (during which real GDP growth averaged 10.8 per cent per annum), in 2013/14 Ethiopia's economy grew for its 11th consecutive year posting 10.3 per cent growth.

The same statistics shows that owing to a coordinated prudent fiscal and monetary policy stance, inflation has been contained to single digits since 2013. Federalism and devolution of power to the regions are also paving the way to overcoming geographic and socio-economic barriers to attain inclusive growth and structural transformation.

Indeed, Ethiopia has been on a meteoric rise since the coming to power of the EPRDF-led government in 1991. Thanks to the visionary leadership of the incumbent government, which brought about remarkable stability in the country, Ethiopia has registered resounding successes in the political and socio-economic arenas.

Politically speaking, Ethiopia has made a huge leap forward in terms of building a strong democratic system and good governance. The incumbent government has ended the rule of one of the most vicious dictatorships the world has ever seen, the Derg. It drafted an all inclusive Constitution, which recognizes and guarantees the equality of all Nations and Nationalities with inherent right to govern themselves in their own languages. Under the leadership of the incumbent, human and democratic rights have been given constitutional protection. The right to self-determination and equality among Ethiopian people, enshrined in the Constitution, is also in full swing.

There had never been political parties previously in Ethiopia. It is the current government that facilitated favorable conditions for the establishment of a multi-party system in the nation. The incumbent takes much credit for holding free, fair, transparent, peaceful and reliable elections across the nation and helping a democratic culture to take root in the country.

The current government has also brought about political stability in the country by effectively dealing with politics of hate, which used to be the hallmark of the previous Ethiopia. It is a fresh memory that vengeance had been the guiding principle of past governments in the country for centuries. But, today thanks to the incumbent that dark chapter of politics of hate is being closed. Political hatred is eventually fading away from the hearts and minds the Ethiopian people. Due to the enhanced awareness of the public on the importance of democracy and tolerance, many Ethiopians are now squarely saying "No" to the politics of hate and the abuse of power that have marked Ethiopia's political history in the past. Most people across the nation, irrespective of their ethnicity, religion and political attitude understand the vital importance of preserving the provisions of the Constitution and the rule of law in this country. And most Ethiopians, regardless of their political persuasion, recognize the importance of civility and honest public discourse in the country's political system. In their everyday lives Ethiopian people are coming to understand that other people may have held practical, ideological, and philosophical differences with them. Indeed, no government has contributed as much for the Ethiopian people as has the present one in terms of building a multi-party state on the ashes of tyranny and dictatorship. That is a fact which the majority of Ethiopians will attest to.

In the economic arena, the incumbent government has been pursuing an economic policy that focuses on the enhancement of the standard of living of all Ethiopians regardless of their regions. It has been staunchly fighting poverty with great success. Right from the time it assumed power in 1991, the current Government of Ethiopia made the eradication of hunger and reduction of poverty the prime focus of its efforts and development policies. The policy and reform measures introduced by the government have led to an economic transformation and private sector participation. Above all, the government has committed itself to eradicating poverty with viable economic strategies and good governance. The strategies have begun to bear fruit as evidenced by an average of over 10 percent economic growth in the last 12 years. This is the highest growth rate among the non-oil economies in Africa.

The economic progress has put the country among the top performing economies in sub-Saharan Africa, compatible with the country's vision of becoming a middle-income country within the coming few years. Government expenditure on poverty eradication has continued to increase over the years. Macroeconomic data indicate that Ethiopia is well placed to meet most of the UN's Millennium Development Goals at the end of 2015.

Although agriculture is booming, the industry and service sectors are also recording double-digit growth, indicating that development is becoming more broad-based. With an improved investment climate, Ethiopia has continued to attract and expand both domestic and foreign investment. In addition, Ethiopia recorded gigantic strides in the industry sector. The country is on course to becoming a net exporter nation. Tremendous achievements have also been obtained in the service sector.

In the social development field, the incumbent attained phenomenal achievement in education and health coverage of the country. Telephone and access to electricity is more expanded than ever before. Thanks to Ethiopia's immense water resources, the country has become exporter of electric power to neighboring countries.

Unreserved efforts have also been exerted to improve tourism which we all know will make Ethiopia a primary destination for visitors. As a result of these efforts, the 2015 Accolade of World Best Tourism Destination has been given to Ethiopia. The country has been praised for its outstanding natural beauty, dramatic landscapes and ancient culture, leading the European Council on Tourism and Trade to select it out of 31 countries as this year's top holiday spot. Visitor numbers in the country have increased by 10% over the last decade, according to the Ethiopian Ministry of Culture and Tourism. Last year, more than 600,000 tourists visited Ethiopia, attracted by its fertile national parks, 3,000 year-old archeological history and nine UNESCO world heritage sites.

In addition, commendable activities were carried out in building the execution capacities of government institutions starting from Woreda administrations up to the federal level. The incumbent also managed to keep in check rampant corruption in government institutions with the creation of an independent entity that is dedicated to control the culture of corruption in Ethiopia.

This is only the tip of the iceberg. The government has registered tremendous improvements to Ethiopian towns and cities, both in road infrastructure and services. All over Ethiopia, cities are being modernized through the dedication of local municipalities. Addis Ababa, the capital city, has come a long way from a shanty town to the present modern Metropolis.

The government of Ethiopia is also gearing up to sustain the political and socio-economic achievements in the years ahead. Just recently, Ethiopia has successfully finalized the implementation of the 1st Growth and Transformation Plan (GTP I), which was adopted in 2010 and ran up to 2015. Remarkable socio-economic achievements were registered during the GTP I implementation period.

GTP I aimed, among other things, at achieving the Millennium Development Goals (MDGs) by registering an annual economic growth of 11 percent on average; undertaking well-organized social development that particularly focus on raising the quality and coverage of education and health services; ensuring a stable, democratic and developmental government to lay a fertile ground to subsequent nation building endeavors; and executing the aforementioned major objectives in macro-economic framework. According to the government's GTP I execution report, most of the objectives of the Plan have been successfully realized. The country has recently launched the 2nd five year Growth and Transformation Plan (GTP II ), which is believed to enable the country to register more resounding socio-economic successes and help the nation to expedite its fast journey towards becoming a middle-income country.

Generally speaking, Ethiopia is indeed rising and shining as confirmed by the international community and various media outlets. The government is moving the nation forward. It is steering Ethiopia on the right path and unprecedented economic growth. We have now entered into a trajectory of fast socio-economic growth, and marching fast towards becoming a middle income country in the coming few years ahead.

Source: AllAfrica