Regulatory Alerts2017-11-01
National Bank of Ethiopia Annual Report 2016-2017
The National Bank of Ethiopia issued its 2016/17 Annual Report detailing a macroeconomic recovery driven by a 10.9 percent GDP expansion and targeted policies that maintained single-digit inflation and a managed floating exchange rate. The document requires the central bank to maintain reserve money growth within targets, ensure interest rate stability via a minimum deposit rate, and strengthen supervisory operations to support financial sector capitalization and nationwide banking expansion. Supported by a 27.6 percent surge in foreign direct investment, rising domestic savings, and an active financial inclusion strategy, the report projects continued positive economic growth for 2017/18 despite external trade headwinds.
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