The Ethiopian government is taking measures to reduce the rate of inflation to single digits this fiscal year according to the National Bank.
The government has stopped borrowing from the central bank as part of the effort to reduce inflation explained bank executives speaking to the Budgetary and Finance Standing Committee of the House of Peoples' Representatives on Monday.
The Ministry of Trade and Industry stated that the government and pertinent institutions are committed to exert maximum effort to balance the country’s import and export trade. Misganaw Arega, Trade and Industry State Minister, said Ethiopia’s trade balance between import and export should be narrowed to reach the long-term goals of the country.
The government of Ethiopia has expressed its intention to KEFI Minerals, the British company that it is willing to invest in the Tulu Kapi gold mine, according to The Reporter.
Ethiopia is to resume export of Teff flour in the coming budget year after the ban set by the government in 2006, Addis Fortune reported.
The Ethiopian Ministry of Trade and Industry announced that it will sell in the market over a thousand truckloads of steel seized at 13 different locations. The steel, the Ministry said, were prepared "to be sold illegally".
