Birhanu Fikade

The State owned Enterprises (SoEs) have generated some 300 billion birr in revenues, 38 billion birr short from the targeted revenues while securing 55.66 billion birr in profits which as well short of the 70 billion birr in profit before taxes, set for the concluded Fiscal Year.

​​​​​​​Habtamu Tsegaye is a Crop Value Chain Advisor with Feed the Future Value Chain Activity, a project backed and financed by the USAID across the agricultural sector.

Closed for more than half the school year, the government has further relaxed restrictions to allow the reopening of schools amid the spread of COVID-19 across the country, leaving many parents in limbo.

A recent procurement bid for reinforcement bars, issued by the Ethiopian Construction Works Corporation (ECWC), has infuriated industry players as the state run corporation imports thousands of tons of metal products, while only intending to buy a few kilograms of rebar, locally.

The Ethiopian Economics Association (EEA) said on Thursday that the introduction of new banknotes and denomination into the monetary system might cause a shift in deposit preferences towards holding currency instead of depositing in the bank.

A survey commissioned by the Pan-African Private Sector Trade and Investment Committee (PAFRAC) and conducted by the African Business magazine in partnership with Afrexim Bank, has revealed that African CEOs are explicitly calling for a fairer system in the global trade.

As part of his reform agenda, Prime Minister Abiy Ahmed (PhD) has emphasized on revitalizing the tourism sector as part of his three year, USD 10 billion, Homegrown Economic Reform Program.

Metal and engineering industries have expressed their concerns that many manufactures will likely be forced to close shops due to lack of access and shortage of foreign currency to import raw materials, while traders have the flexibility to import finished metal and engineering products.

Alemayehu Geda (PhD, Prof), a prominent economist, has painted a dire look at the economic growth set for the new fiscal year, predicting it will further contract and even dip into negative 2.7 percent.

A severe shortage of foreign exchange, that has plagued the economy so far, has further led to banks struggling to find international go-between/correspondent banks to process payments in Letter of Credits (L/C), The Reporter has learnt.