2merkato

The Gross Domestic Product of Ethiopia has shown a growth of 11.4% in the first year of the five year development plan according to the Ministry of Finance and Economic Development.

The nation’s economic fundamentals remained strong in the budget year in spite of significant challenges including the global economic meltdown and domestic inflation said Sufian Ahmed Minister of Finance speaking at a workshop.

Foreign export revenue showed a growth of 37.1% during the same period with increases recorded in the volume of major export goods and driven by increasing international commodity prices as well policies enacted to enhance competitiveness of products on the market according to Sufian.

Tulu Kapi Gold Mine’s developer, KEFI Minerals, asked the Government of Ethiopia to increase its investment in the gold mining project.  

Ethiopia’s grant and loan disbursement amount from multilateral donors has raised by 96.8 percent in the first quarter of this Ethiopian fiscal year as compared to the same period past year, Ministry of Finance and Economic Cooperation (MoFEC) revealed.

Ethiopian Electric Power (EEP) announced that its dams were fully replenished after the recent rainy season, ensuring sufficient water for power generation to meet this year’s ambitious targets.

Ethiopia’s central bank, National Bank of Ethiopia, disclosed the nations import bill has reached 11.7 Billion USD in the first 9 months of the current fiscal year. This is an 8 percent decline when compared to the same period from last year.