{"id":103877,"date":"2025-10-29T09:08:07","date_gmt":"2025-10-29T09:08:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/103877\/"},"modified":"2025-10-29T09:08:07","modified_gmt":"2025-10-29T09:08:07","slug":"africas-fastest-growing-economy-cuts-foreign-debt-by-80-declares-growth-without-loans","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/103877\/","title":{"rendered":"Africa&#8217;s fastest-growing economy cuts foreign debt by 80%, declares &#8216;growth without loans&#8217;"},"content":{"rendered":"<p>\n        \u201cThe economy is growing without foreign loans. We have built a system that stands on Ethiopia\u2019s own capacity,\u201d Ahmed told lawmakers on Tuesday while addressing the House of People\u2019s Representatives.\n    <\/p>\n<p>\n        Speaking in defence of his government\u2019s <a href=\"https:\/\/africa.businessinsider.com\/local\/markets\/ethiopia-to-join-africas-fastest-growing-economies-with-over-dollar25bn-in-exports\/tdc8064\" id=\"c8617c18-da33-4163-93ad-bdfd49e818d1\" rel=\"nofollow noopener\" target=\"_blank\">Homegrown Economic Reform Programme,<\/a> launched in 2019, the prime minister said the reforms had repaired macroeconomic imbalances and strengthened domestic revenue generation.\n    <\/p>\n<p>\n        According to him, <a href=\"https:\/\/africa.businessinsider.com\/local\/markets\/africas-fastest-growing-economy-sets-new-rules-for-foreign-stake-in-local-banks\/jfwj0jq\" id=\"156ad625-a865-4c48-94a9-23019de76782\" rel=\"nofollow noopener\" target=\"_blank\">Ethiopia\u2019s annual revenue<\/a>, which once stood at 170 billion birr (about $2.95 billion), is now projected to reach 1 trillion birr (about $17.3 billion).\n    <\/p>\n<p>\n        Ahmed revealed that the government had spent 440 billion birr ($7.6 billion) in subsidies to \u201cstabilise inflation,\u201d which has now dropped to 11.7%, the lowest since the reform agenda began.\n    <\/p>\n<p>\n        Most of the spending, he said, went to fuel, fertiliser, and public sector salaries, as well as social measures such as school feeding programs.\n    <\/p>\n<p>\n        \u201cWe have used every possible instrument to ease the cost of living. Our economy is standing tall again,\u201d he said.\n    <\/p>\n","protected":false},"excerpt":{"rendered":"\u201cThe economy is growing without foreign loans. We have built a system that stands on Ethiopia\u2019s own capacity,\u201d&hellip;\n","protected":false},"author":2,"featured_media":103878,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[114,184,85,46],"class_list":["post-103877","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-il","tag-israel"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/103877","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=103877"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/103877\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/103878"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=103877"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=103877"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=103877"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}