KEYIR NEWS:- Governor of the National Bank of Ethiopia, Ato Mamo Mehretu, has reported that the country’s inflation rate has dropped to 14pc over the past fiscal year, crediting the decline to a stringent monetary policy.
Presenting an 11-month performance report to the Standing Committee on Planning, Budget & Finance at the House of People’s Representatives, Ato Mamo noted that the central bank’s monetary tightening had also resulted in zero direct borrowing by the government during the same period.
He further pointed to improvements in foreign exchange management, which have helped narrow the gap between the official and parallel markets. The Bank reportedly increased its total foreign exchange earnings to 32.1 billion dollars, alongside gains in reserves, private sector forex access, and external debt servicing capacity.
The Governor emphasised that these measures are part of ongoing reforms to restore macroeconomic stability and rebuild confidence in the financial system.