Meles: Newly endorsed land lease proclamation benefits public, investors

Addis-Ababa(CakaraNews).Prime Minister Meles Zenawi Wednesday presented his government’s performance report for the past six months to the House of People’s Representatives (HPR). The report covered activities undertaken over the past six months in the political, economic and social sectors. Meles said the double digit growth forecast for the Ethiopian economy over the past budget proved a reality. The exact figure was finally confirmed to be 11.4 percent, he said. Agriculture, industry and service sectors grew by 9, 15 and 12.5 percent respectively in the stated budget year, Meles said. As a result of various measures taken to contain inflation, it has just been brought down to 32 percent from 40 percent previously, he said. If the trend goes on the same way, the rate would drop to single digit at the end of the current budget year. According to Meles, efforts employed over the past six months to improve the tax system have born fruit. Not less than 35 million Birr has been collected in the stated period. The amount exceeds that of same period last year by 41 percent. The Premier said the newly issued land lease proclamation is in favor of the lower class society and developmental investors. He said the proclamation, as opposed to ongoing rumors, has nothing to do with older land holdings. The reform measures being taken as regards land administration and tax system would be strengthened further, he said. The government would also intensify its efforts to make the trade system suitable to free and peaceful competition.

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