President Taesuke Selassie stated on Tuesday that Ethiopia's economy is projected to grow by 10.1% during the 2026/2027 fiscal year, which began on July 8.
These statements were made by him during the joint opening of the session of the House of People's Representatives and the House of Federation—the lower and upper houses of parliament, respectively—in Addis Ababa. During his speech, he outlined the country's main economic, social, and political goals.
Key priorities for the current budget year include maintaining comprehensive economic development, providing quality public services, ensuring peace and security, improving institutional coordination, and strengthening foreign relations.
The President noted that building upon the 10.2% economic growth achieved in the 2025/2026 fiscal year, comprehensive steps are being taken to maintain positive momentum and reach the target of 10.1%, despite internal and global difficulties.
He reported that strategic fiscal measures are being implemented to support a diversified and prosperous economic base, including efforts to increase domestic revenue collection.
Taesuke Selassie also presented data on the economic results for the 2025/2026 fiscal year, which ended on July 7. Annual export revenue reached a record $11.2 billion, and the inflow of foreign direct investment increased to $4.5 billion.
The current fiscal year marks the first year of Ethiopia's new federal government, which was officially formed on Monday after the ruling Prosperity Party appointed the incumbent Prime Minister Abiy Ahmed for another five-year term.
The formation of the new government followed the completion of the constitutional process that arose after the seventh general elections held on June 1, in which the Prosperity Party won a convincing victory.