Regulatory Alerts2024-08-27
National Bank of Ethiopia Annual Report 2022-2023
The National Bank of Ethiopia issued its 2022-2023 Annual Report, which outlines sustained contractionary monetary policies and fiscal consolidation that drove a 7.2 percent real GDP expansion. The central bank successfully curbed headline inflation to 32.6 percent and reduced the budget deficit to 2.5 percent of GDP through targeted revenue mobilization and capital expenditure prioritization. Concurrently, it maintained a managed float exchange rate that permitted a 9.7 percent nominal Birr depreciation while ensuring financial sector soundness through controlled non-performing loans and expanded banking outreach.
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