2merkato

Endowment Fund for the Rehabilitation of Tigray (EFFORT) concluded a 5 billion Birr agreement with the Chinese CEC Engineering Corporation and Fengda Chemical Planning and Design for the establishment of an integrated Polyvinyl chloride (PVC) resin manufacturing plant in Tigray, Ethiopia.

Following the severe drought that hit Ethiopia, the country will not be able to meet its projected 11 % economic growth for the current fiscal year. It will expand only by between 7% and 10%.

Prime Minister Hailemariam Dessalegn noted, “The economy will continue to register growth, if not a double-digit fast economic growth”.

Ministry of Mines, Petroleum and Natural Gas (MoMPG) announced Ethiopia would provide potash for the international market in the coming 4 years.

Ethiopia’s Ministry of Finance and Economic Cooperation faced 14.4 billion Birr budget deficit in the first six months of the current fiscal year. The Ministry generated 80.5 billion Birr income but its expenditure was 95 billion Birr.

The six performance show there is a 7.7 percent increment in tax revenue when compared to last year’s performance. However, this was lower than what was planed.

Ethiopian National Accreditation Office (ENAO) announced that it aimed to create a uniform system of accreditation across Ethiopia. The office encourages service seekers to benefit from its specific services such as laboratory testing, calibration, certification and inspection.

Development Bank of Ethiopia (DBE) announced it aims at extending 112 billion Birr loan during the second Growth and Transformation Plan (GTP II) period.

Ethiopia’s flag carrier, Ethiopian Airlines, will take delivery of Airbus A350-900 jetliner by May 2016, for the company’s 70th anniversary celebration.

The jetliner is going to be the first of its kind in Africa. Commenting on the development, Airbus said there was an established customer support in Ethiopians’ premises which will work closely with Ethiopian Airlines to ensure the smooth entry into service of the A350XWB with the airline.

Ethiopian Agriculture Investment and Land Administration Agency (EAILAA) suspended giving land for large scale agricultural investments. The suspension is for unspecified time, Fana Broadcasting Corporate reported.

Ministry of Public Enterprises is set to privatize 4 public enterprises operating in Ethiopia: Bahir Dar Textile S.C., Kombolcha Textile S.C., National Tobacco Enterprise S.C. and Ethiopian Crown Cork and Can Manufacturing Industry S.C.

Ethiopia’s flag carrier, Ethiopian Airlines, announced it had begun to send its technicians to other African countries.

According to Zemen Nega, Managing Director of the Airlines’ maintenance, repair and overhaul center, the technicians will be sent to Malawi, Rwanda, Cameroon and other African countries.