Prime Minister Hailemariam Dessalegn said Ethiopia’s experience demonstrates that effective implementation hinges on political commitment and strong institutional foundations.

In a keynote address to the opening of the Ministers of Finance, Economic Planning and Integration, the premier said Ethiopia has successively implemented a number of strategic policy documents and national plans that encapsulated its national vision and priorities.

During the first Growth and Transformation Plans(GTP I),for instance, Ethiopia has achieved double-digit growth rates and made significant strides in several MDGs, including poverty reduction, universal education ,child health ,combating AIDS, gender equality, maternal health and environmental sustainability,  Hailemariam elaborated.

The premier noted that lack of economic diversification and high dependency on commodity exports exposes many African economies to external shocks and vulnerabilities stemming from prices and demand volitility.

Hence the premier stressed that “pursuing industrialization and structural transformation agenda is imperative to strengthen the fundamentals of our respective economies.”

African Union Commission Chairperson, Nkosazana Dlamini-Zuma said on her part Africa’s contributions for innovation, science, technology, and patents lags behind; and the skills deficit in key areas such as engineers and scientists, including agricultural scientists run into the millions.

According to Zuma, over 90 percent graduates are in the social sciences, with the exception of Ethiopia.

She further urged the responsible ministers of finance and economic planning as well as the central bankers to foster condition to support industrial policy, including macro-economic policy and job creation for the youth.

Pointing out that 83 percent of Africa’s food consumption is imported, the chairperson underlined the need for industrialization.

 

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