Chapter IX
Economic Development
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State Of The Nation's Economy
Nov. 02, 1966
... In 1966, the Ethiopian nation is sound.  Her people are strong and united.  Her present life is
encouraging, and her future is bright and full of promise.

The country's economy is viable and flourishing.  Revenues from both internal and external
sources have increased steadily over the years.  The Government's annual budgets have
progressively reflected the additional funds available for financing the needs of the nation.  Foreign
trade has continued to expand.  Domestic commercial activity has kept pace with the accelerating
tempo of the life of the nation.  Foreign exchange reserves have been maintained at comfortable
levels.  The Ethiopian dollar remains a firm and solidly backed currency.

Domestic and foreign investment has grown, as attractive opportunities have become more
apparent and as the economy's ability to support a sustained rate of expansion has been proven.  
Internal and external debt has been held to reasonable levels, and the greater part of the proceeds
of contracted loans has been channelled into programmes of infrastructure serving the entire
nation:  roads, power production and transportation and telecommunications facilities and
services, among others.  These accomplishments are the product of a united nation, the
achievement of the diligence and industry of a people whose unity admits of not tribal differences....
Haile Selassie the First - November 2, 1966