Regulatory Alerts2025-06-25
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National Bank of Ethiopia Annual Report 2023-2024
The National Bank of Ethiopia reports an 8.1 percent real GDP growth for the 2023/24 fiscal year, driven by increases in the service, industrial, and agricultural sectors. Headline inflation declined to 19.9 percent from 29.3 percent in the previous year, supported by a tight monetary policy that limited credit growth to 14 percent and reduced government direct advances. The budget deficit narrowed to 2.1 percent of GDP, while the Birr depreciated by 5.0 percent against the US Dollar under a managed float regime. The financial sector remained stable with continued branch expansion and increased foreign direct investment.
Topics
monetary
credit
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