Addis Ababa, March 13, 2025- The Ethiopian Economics Association (EEA) is proud to announce the signing of a contract to develop a groundbreaking Macroeconomic Modeling and Forecasting System tailored to the Oromia National Regional State. The contract was signed by Professor Mengistu Ketema, CEO of the Ethiopian Economics Association, and Mr. Julla Lamma, Vice Commissioner of the Oromia Planning and Development Commission.
This two-year project will be the first of its kind in Ethiopia, employing Artificial Intelligence (AI) and Machine Learning in macroeconomic modeling and forecasting. The integration of these advanced technologies will revolutionize the approach to economic analysis in the region, offering more precise and data-driven insights for decision-making. The general objective of the project is to design and implement a practical, effective, and AI-powered macroeconomic forecasting system specifically for Oromia, aimed at improving regional economic planning and policy development.
The methodology behind the project will focus on developing innovative techniques and methodologies for building robust macroeconomic models that can conduct policy analysis and assess socio-economic conditions in the Oromia region. The project will also identify the most suitable forecasting Method that leverage AI and Machine Learning to address the region’s unique macroeconomic challenges. Additionally, an integrated forecasting model will be created to link key socio-economic variables, providing decision-makers with valuable insights and accurate economic predictions.
This pioneering effort marks a significant leap forward in enabling the Oromia regional government to make informed, data-driven decisions that promote sustainable development. During the signing ceremony, Professor Mengistu emphasized the transformative potential of using AI and Machine Learning to enhance economic analysis. V. Commissioner Julla also highlighted how these cutting-edge technologies will reshape the region’s approach to economic forecasting and policy-making.
The Ethiopian Economics Association is proud to contribute to this innovative project, which is set to play a key role in fostering informed decision-making and sustainable economic growth in Oromia.
Ethiopian Economics Association
