Ethiopia’s Promising Economic Growth Must Be Supported by Stakeholder Organizations: PSI Director-General

Addis Ababa: The promising economic growth of Ethiopia witnessed in the first phase of the Homegrown Economic Reform must be supported by organizations such as the Ethiopian Economics Association and the Policy Studies Institute, Director-General of the Policy Studies Institute (PSI) Professor Beyene Petros said.The 21st international conference on the Ethiopian economy is taking place in Addis Ababa with the objective of highlighting innovative solutions and promoting collaboration to unlock potential and tackle challenges.Opening the two-day Conference today, Professor Beyene said that Ethiopia has been pursuing a Homegrown Economic Reform, which is now in a second phase, to propel the country's economic progress.According to him, the Homegrown Economic Reform is on the right track.Furthermore, the government had launched the 10-year development plan which is expected to serve Ethiopia as a pathway to prosperity in the coming decades, he added.'Developing good strategic plan is not an end by itsel f; and I believe that such a plan may not be of much use unless we jointly translate them into action,' the professor stressed.In this respect, the economic growth the country has been registering is promising and must be supported by organizations such as the Ethiopian Economics Association (EEA), and also the Policy Studies Institute, in exploring the huge potential and opportunities of the country to sustain and speed up growth.Given the challenges that the country is facing in the sector, there is no doubt that research based evidence is required to design effective solutions, the director-general noted.'All of us have a role to play. The role of professional associations and think tanks like the EEA and PSI is crucial.'Ethiopian Economics Association CEO Professor Mengistu Ketema said conducting researches is not an end by itself as the outcome of the researches has to be tabled for discussions and be accessible for stakeholders.To create opportunities for further discussions, the association o rganizes an annual international conference that discuss various relevant topics, he stated.The conference will create opportunity to generate ideas that will be instrumental for policymakers, including the government and other stakeholders.The conference, organized by the Ethiopian Economics Association in collaboration with partners, is mainly aimed at facilitating economic discussions, highlighting innovative solutions, disseminating research findings, and promoting collaboration and networking.Source: Ethiopian News Agency