Regulatory Alerts2009-11-01
National Bank of Ethiopia Annual Report 2008-2009
The National Bank of Ethiopia issued its 2008/09 Annual Report to document a 9.9 percent real GDP growth driven by robust performance across agriculture, industry, and services despite global economic headwinds. The central bank deployed tight monetary and prudent fiscal measures to curb unprecedented headline inflation, which decelerated from 46.1 percent in early 2009 to 36.4 percent by mid-year. Concurrently, the report details substantial expansion in broad money supply, domestic credit allocation, and banking sector capacity to sustain macroeconomic stability.
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