1. The Ethiopian authorities are appreciative of the constructive engagement with the Fund over recent years. They thank staff for the frank and constructive dialogue during the 2015 Article IV mission, which will help inform implementation of their macroeconomic policy and development agenda. They remain committed to pursuing prudent macroeconomic policies and further deepening their structural reform agenda in support of their Growth and Transformation Plan (GTP).
2. Consistently strong economic growth over the past decade and a broadly stable macroeconomic environment has placed Ethiopia among the top performing economies in Sub-Saharan Africa. With broad-based expansion and increased diversification of the economy, growth has been rendered increasingly inclusive and employment-generating. Poverty has reduced significantly and the income gap narrowed substantially. Implementation of the authorities’ GTP is on course to deliver remarkable socio-economic gains, and the authorities are committed to mobilizing the required financing for sustainable development. The economic outlook continues to be greatly favorable, reflecting the country’s huge economic potential, prudent macroeconomic management, and productivity-enhancing reforms.