Ethiopian Industrial Input Development Enterprise (EIIDE) earned Birr 2.6 billion in the first half of the current fiscal year from the sell of industrial inputs and services. It reported that it was providing quality raw materials and inputs to manufacturing industries.
The Ethiopian Industrial Input Development Enterprise has reported a revenue of Birr 4.39 billion for the recently concluded fiscal year from the sale of industrial inputs, products, and other services.
Ethiopian Industrial Input Development Enterprise (EIIDE) announced that it was working to resolve the shortage of industrial inputs in the country. For the current fiscal year, EIIDE has plans to purchase industrial inputs worth Birr 2 billion from the domestic market and import other industrial inputs at a cost of USD 18.9 million to supply the inputs to companies.
The Ethiopian Industrial Inputs Development Enterprise (EIIDE), which was established four years ago, said the low performance of the manufacturing sector was attributable to its inefficient capacity. The manufacturing sector shows low performance mainly because of shortage of inputs supply.
Ethiopia's inflation rate has picked up pace in June mainly driven by surge in prices of non-food items, the Ethiopian Central Statistics Agency monthly inflation report indicated last week.
The Consumer Price Index grew at an annual rate of 7.4% in June compared with 6.3% in May, the first month of increase after a steady decline over the last year.
