The new Tadjoura Port of Djibouti began this week serving northern Ethiopian regions allowing the country to import and export non-containerized goods, says the Ministry of Transport of Ethiopia.
Ethiopian Pharmaceuticals Supply Agency (EPSA), the state agency in charge distributing medicines and medical equipment to state health centers, said it has spent 16.5 billion Birr (about $450 million) last year concluded July 7, 2020.
Taking over the U.S and China markets, European countries have become the major importers of Ethiopian commodities during the budget year of Ethiopia concluded July 7, 2020.
The economy of Ethiopia will shrink between 5.6 to 11 percent as a result of coronavirus (COVID-19) pandemic, stated a paper by the renowned Addis Ababa University Economics Professor Alemayehu Geda.
In an effort to rescue the economy from collapsing due to COVID-19 pandemic, the Government of Ethiopia orders the central bank to disburse 15 billion birr (close to $460 million dollar) to private banks.
Ethiopia’s export performance which has been declining since 2012, has dropped by $170 million for the fiscal year concluded July 7, 2019 as compared to the previous year.
The total number of vehicles Ethiopia has imported and registered last year (the fiscal year ended July 7, 2019) has surpassed the amount the country imported the previous year by 30,834 vehicles.
