2merkato

The macroeconomic reform the government implemented has helped increase foreign currency flow into Ethiopia, an advisor to the Prime Minister said.

The Southern Regional State of Ethiopia Culture and Toursim Bureau announced it has earned over 145 million Ethiopian Birr from more than 600,000 tourists who visited religious, natural, cultural and historical sites in the region during the last nine months.

Seblework Abebe,  Government communication Officer with the the bureau said more than 500,000 of the visitors are Ethiopians.

The Economic Commission for Africa is hosting a meeting in Ethiopia from July 24- 26, 2014 under the theme “Boosting Market Integration and Intra-African Trade through Effective Management of Regional Transport Infrastructure and Services”. The venue for the meeting is the UN Conference Center.

Three draft regulations got approval from the Council of Ministers today. A Regulation to establish the Ethiopian Agricultural Research Institute, a Regulation to establish the Social Security Agency for Government and Private Sector Employees, and a Regulation on the powers and responsibilities of the Ethiopian Construction Authority (ECA) were given a go ahead by the Council.

The National Bank of Ethiopia (NBE) said that official receipt of remittance to Ethiopia grew to 1.5 billion dollars in the fiscal year to 8 July 2011, registering an 88 percent increase over its value in the previous year.

In spite of discrepancies for years between World Bank's estimates and that of NBE, the National Bank of Ethiopia for the first time confirmed the receipt of 1.5 billion dollars.

According the central bank's record, 789.5 million dollar was collected from Ethiopian citizens and foreigners based in Ethiopia over the last fiscal year in the form of private transfer.