Ethiopia sees record US$32 billion in foreign revenues amid economic reforms

Ethiopia has achieved a record foreign revenue of US$32.1 billion in the 2024/25 fiscal year, a sharp increase from US$24.7 billion the previous year. This is reported by Fana Media Corporation (FMC), a partner of TV BRICS, citing data from the National Bank of Ethiopia (NBE).

The announcement was made at the opening of the Ethiopian Finance Forum in Addis Ababa, where senior officials, economists, and business leaders gathered to discuss macroeconomic reform, regional trade, and sustainable development.

Finance Minister Ahmed Shide attributed the revenue surge to wide-reaching economic reforms that have boosted key sectors such as agriculture, industry, tourism, and mining. He noted that, for the first time, the government has ceased borrowing from the central bank, marking a major shift towards fiscal discipline and improved public finance management. 

Looking ahead, officials reaffirmed Ethiopia’s commitment to deepening regional integration and private sector engagement. Investments in cross-border infrastructure and digital connectivity are seen as vital to strengthening economic ties in the Horn of Africa.