In a joint meeting with the members of the National Macroeconomic Committee, the Council of Independent Economic Advisers—established by Prime Minister Abiy Ahmed to advise the government on economic matters—presented in detail its activities over the previous two years. He informed the committee that he had created five separate strategic documents after organizing himself by studying the experiences of many nations. The conference also asked the Macroeconomic Committee to consult on matters of law, finances, secretariat organization, and communication.
Members of the National Macroeconomic Committee expressed how much they value the creation of Ethiopia’s first independent advisory board of academics, which is ready to provide suggestions. It was decided to meet with the committee twice a year and then the prime minister once a year regarding the contact time. The government will fund the conference, it was declared in the forum, and it was decided to create a secretariat in charge of the consultation.
The National Macroeconomic Committee members emphasized that the council should play its role in coming up with useful ideas as the nation transitions from a time of war to one of peace and faces numerous internal and external pressures that test the economy. A report titled Civil War in Northern Ethiopia: Effects on the Country’s Economy was published by the advisory council in the interim.
The report outlined the country’s financial burden and included direct, indirect, cumulative, and immediate costs. The report will assist reinforce the government’s three-year recovery plan, according to the members of the macroeconomic committee, who emphasized its importance. The discussion came to an agreement by passing decisions on various issues, according to a statement from the Ministry of Planning and Development.