ADDIS ABABA, Oct. 6 (Xinhua) -- Ethiopia's economy is projected to grow by 10.1 percent during the country's current 2026/2027 fiscal year, which started on July 8, Ethiopian President Taye Atske Selassie said.
Atske Selassie made the remarks while outlining the East African country's key economic, social, and political targets at the joint opening session of the House of Peoples' Representatives and the House of Federation -- the lower and upper chambers of parliament, respectively -- on Tuesday in Addis Ababa, the country's capital.
He identified sustaining broad-based economic development, delivering quality public services, ensuring peace and security, improving institutional coordination and strengthening foreign relations as key priorities for the current budget year.
Building on economic growth of 10.2 percent last fiscal year, he said that comprehensive efforts are underway to sustain the positive momentum and achieve a growth of 10.1 percent this fiscal year, against global and domestic challenges.
According to the president, strategic fiscal measures are being implemented to support a thriving and diversified economic base. He said these measures, among other things, are intended to improve domestic revenue collection.
Meanwhile, Atske Selassie praised the country's economic performance during the 2025/2026 fiscal year that ended on July 7, noting that annual export trade revenue reached a record 11.2 billion U.S. dollars, while foreign direct investment inflows rose to 4.5 billion U.S. dollars.
This year marks the first year of the country's new federal government, which was formally established on Monday, as the ruling Prosperity Party (PP) appointed incumbent Prime Minister Abiy Ahmed for another five-year term in office.
The formation of the new government marked the completion of a constitutional process that followed the seventh general election held on June 1, in which the PP secured a landslide victory.
