Ethiopia's Financial Boom: Federal Revenue Soars 112% in Three Months
Ethiopia's federal government has demonstrated a robust economic performance in the first three months of the current Ethiopian fiscal year (July 2025 - June 2026), collecting a substantial 323 billion birr in revenue. This figure represents a significant increase from the 152 billion birr collected during the same period last year, a testament to the focused efforts undertaken by the government to strengthen revenue collection across various sectors. The Minister of Planning and Development, Fitsum Assefa (PhD), presented these findings as part of the government's 100-day performance report.
Key economic indicators further underscore this positive trend. Gold exports contributed $1.2 billion, while coffee exports brought in $763 million over the past three months. Remittance inflows reached an impressive $2.3 billion, and foreign direct investment (FDI) was recorded at $961 million, highlighting strong external sector performance. The financial sector also saw significant growth, with the total deposit reserve reaching 3.73 trillion birr. Fitsum Assefa noted an "unusual rate" of growth in the volume of credit extended to various sectors, indicating increased economic activity.
The 100-day performance review, presented to the Council of Ministers, also assessed global economic trends and Ethiopia's macroeconomic developments and growth outlook. Despite challenges in the global economy, the Office of the Prime Minister affirmed Ethiopia's "distinctive resilience and momentum." The nation's economy grew by 9.2 percent in the preceding 2017 Ethiopian fiscal year, driven by robust expansions in agriculture (7.3%), industry (13%), and services (7.5%). Agriculture constituted 31.3% of GDP, industry 30.2%, and services 39.6%.
Looking ahead, the government projects an even higher GDP growth rate of 10.2 percent for the current fiscal year. This optimistic forecast is bolstered by ongoing reforms, large-scale investments, and major infrastructure projects, including the completion of the Grand Ethiopian Renaissance Dam (GERD) and new ventures in fertilizer production and gas development. Sectoral forecasts predict continued expansion, with agriculture expected to grow by 7.8%, industry by 13.2%, and services by 9.3%, supported by rising trade, transport, tourism, and digital activity.
Commodity exports in the first quarter reached $2.5 billion, surpassing both set targets and last year's performance. Loan disbursement by the financial sector surged by 113 percent compared to the same period last year, and digital finance transactions amounted to 6.5 trillion birr within three months. The Office of the Prime Minister concluded that the overall performance "indicates a better outlook on all fronts," reinforcing Ethiopia's commitment to structural transformation and achieving sustainable, inclusive economic growth.
You may also like...
Rooney Blasts 'Crisis Mode' Liverpool: Champions Lacking Leadership and Salah's Form a Major Concern

Defending Premier League champions Liverpool are in a worrying slump, having lost four consecutive matches. Former Engla...
Real Madrid Stuns Barcelona with Clasico Masterclass; Mbappe, Bellingham Shine

Europe's top football leagues delivered a weekend of high drama, featuring Real Madrid's controversial El Clásico victor...
Daily Show Drama: Jon Stewart's Battle for Creative Freedom Amid Paramount-Skydance Merger

Jon Stewart revealed at the New Yorker Festival that he is actively seeking to extend his contract at “The Daily Show” d...
Hemsworth Breaks Silence: The Weight of Replacing Cavill in Witcher Season 4

Liam Hemsworth will debut as Geralt of Rivia in The Witcher Season 4 this Fall, replacing Henry Cavill. Hemsworth shared...
Mzoe 7's 'Fela Kuti' Spectacle: Zimbabwean Artist Redefines Music & Drama!

Mzoe 7's recent one-man show at the Bulawayo Theatre has redefined performance standards, captivating audiences with a m...
Zimbabwean Duo Bantu & Dr. Chaii Seize Apple Music's Isgubhu Spotlight!

Award-winning Zimbabwean artists Bantu and Dr. Chaii are the latest Apple Music Isgubhu cover stars, celebrated for thei...
Caroline Flack Tragedy: Mother's Heartbreak Over Texts Found on Lewis Burton's Phone

Caroline Flack's mother, Christine, is heartbroken by newly resurfaced questions surrounding texts found on Lewis Burton...
Strictly's Claudia Winkleman's Daughter: A Decade On From Horrific Halloween Accident

After 12 years, Claudia Winkleman is stepping down from Strictly Come Dancing to prioritize her family, including her da...



