Addis Ababa, — Ethiopia’s Ministry of Mines has reported that gold export generated over 2.1 billion dollars during the nine months of the 2017 Ethiopian fiscal year.
The update came during the nine month’s performance review in a high-level discussion held by the ministry leaders and staff, along with representatives from related institutions.
According to the ministry, a total of 26 tons of gold were delivered to the National Bank of Ethiopia, contributing significantly to the country’s foreign currency reserves.
It is also stated that the discussion has emphasized on the progress made across various mining projects, with new developments in gold, coal, and cement production now operational, which are part of broader efforts to boost the sector’s contribution to the national economy.
Achievements across multiple sectors were presented during the session, reflecting the positive outcomes of ongoing macroeconomic reforms, according to the ministry.
Advisor of the Prime Minister on Youth and Sports Kejala Merdasa, who participated in the discussion, praised the performance of the mining sector, emphasizing that it has shown remarkable progress compared to other industries.
He also emphasized the importance of maintaining this momentum to sustain future growth.