Ethiopia’s Prime Minister, Hailemariam Dessalegn, disclosed the government has decided to base its fuel pricing on the global market rates. The moves was made in order to stabilize the market following the 15 percent devaluation of Birr against USD. The announcement was made when the Premier addressed the legislature to answer to queries raised by the MPs.

According to the Premier, pre-devaluation fuel prices would stay intact as the government has decided to go in line with the global fuel prices along with 6 other measures.

“The government has made preparations to offset inflation that could occur following this devaluation,” Hailemariam explained. He added that the measures were taken to encourage the export and manufacturing sectors.
Speaking about measures the Prime Minister referred to Alle Bejimla (AlleWholesale Enterprise) as a potential entity that would act as a buffer against inflation.
Nevertheless, the MPs drew a chorus of laughter from the House as the wholesaler had gone defunct earlier this year.

Source: Capital