Regulatory Alerts2024-06-09
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National Bank of Ethiopia Quarterly Bulletin Fourth Quarter 2023/24
The document presents statistical data and analysis for Ethiopia's macroeconomic and social indicators for the fourth quarter of the 2023/24 fiscal year. It reports that quarterly headline inflation decreased to 2.7 percent, driven by slowdowns in food and non-food inflation, while broad money supply (M2) grew by 14.1 percent annually to Birr 2.48 trillion. The text details financial sector developments, noting that the banking system reached 32 institutions with 12,426 branches, and the insurance sector maintained 18 companies with 799 branches. Additionally, it outlines external sector performance, including a 27.3 percent annual growth in export receipts to USD 1.3 billion and a current account deficit widening to USD 1.1 billion.
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