Budget
Oromia Approves 31.6b Br Budget
The Oromia State Council approves over 31.6 billion Br budget for the current fiscal year on a meeting held in Adama. This amount exceeds the previous fiscal year’s budget by 4.9 billion. Out of the total budget, more than 11 billion is allocated for capital budget and over 14.8 to subsidize woredas. More attention will be given to agriculture, education, health, water supply rural roads, micro and small-scale enterprises, and training in technical and vocational training this fiscal year.
Publication: The Ethiopian Herald, July 12, 2014
Inflation
Inflation Drops to 8.5pc in June
The Central Statistics Agency (CSA) announced that the rate of inflation for the month of July has dropped from 8.7 percent to 8.5 percent. The agency added that the inflation for food price dropped from 6.3 to 6.2 and for non food items from 11.5 to 11 percent. The average inflation in Ethiopia from 2006 to 2014 is 19.69 ranging between -4.10 and 64.20 in July 2008 and September 2009 respectively.
Publication: The Ethiopian Herald, July 15, 2014
SME
Addis to Organize SME’s in Cluster
Micro and Small-Scale Enterprises Development Bureau announced that government is to put a new system to integrate the support government extends to the enterprises though they can support each other. The agency conducted a study to address the problems observed so far such as the provision of loan, technology and market information along with technical and vocational institutions and other organizations.
Accordingly, all the enterprises will be organized under clusters in the just entered fiscal year. The government has allocated close to one billion Birr to extend to the enterprises on loan.
Publication: The Ethiopian Herald, July 17, 2014
Export
Coffee under Performs by 30pc in 2013/14
The Ministry of Trade (MoT) announces that major export items such as coffee and live animals under performed in the just ended fiscal year. Coffee earned 70pc foreign currency earnings from the planed one billion dollar. The earnings were secured by exporting a total of 250,000tn of coffee, less by 139,000tn form the planned amount.
Publication: The Ethiopian Herald, July 16, 2014
Aviation
Ethiopian to Fly to Los Angeles through Dublin
The Ethiopian flag carrier, Ethiopian Airlines, has signed a bilateral agreement with Irish authorities as the first step to allow it to fly in to Dublin airport. This part of the Ethiopian’s plan to launch a flight from Addis Abeba to Los Angeles that would use Dublin as a transit to which it has already secured rights from the aviation regulator.
The airline had yet to apply for what is called fifth freedom rights, which would entitle it to collect passengers at the Irish airport and fly them to Los Angeles.
Publication: The Ethiopian Herald, July 16, 2014
Mining
Geological Survey Finds New Tantalum Deposit
The Geological Survey of Ethiopia (GSE) announced that it has found 20,000tn of tantalum deposit in Oromia Region’s Guji Zone, Kenticha area. Tantalum is used as an input for the manufacturing of medical instruments, mobile phone accessories, and different industrial use items.
The Ministry of Mines (MoM) has given exploration and study license for seven companies including China, Israeli, and Ethiopian developers. Out of the licensed companies the Ethiopian Mining S.C has begun production. The company has secured three million dollar earnings by exporting 80tn of tantalum in the just ended fiscal year.
The country has also earned close to 1.3 million dollar by exporting 33.6tn of tantalum, which is produced through traditional means.
Publication: Addis Zemen, July 14, 2014
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