Wantiya celebrated her daughters 3rd birthday!

Wantiya celebrated her daughter’s 3rd birthday.

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The complete macroeconomic reform has brought a fundamental change to the economy and tangible success - Ato Mamo Mehretu

#Ethiopia  Mamo Mehretu, a member of the central committee of the Prosperity Party and the governor of the National Bank, said that the complete macroeconomic reform has brought fundamental changes and tangible success to the economy.

Mr. Mamo Mehretu. In the last five years, among the major reform works in Ethiopia, he gave an explanation about the reforms made in the economic sector.

In his explanation, he recalled that the complete macroeconomic reform was historic and full of courage and stated that many concrete results were recorded.

For example, he said that the reform of monetary policy was carried out in a way that could withstand inflation and the results continued to be successful.

He recalled that before the reform of the monetary policy, the lack of production and productivity as well as inflation were challenging the country, but after the reform, the inflation has dropped from 30 percent to 16 percent now.

He mentioned that the reform of foreign exchange management has brought about a fundamental change in the economy and said that the efforts to adjust the inflation and the cost of living as required will continue.

In this way, the lack of foreign currency that has been constantly challenging Ethiopia has been alleviated in a fundamental manner and the foreign currency reserves have increased by more than 200 percent, he said.

He said that increasing the foreign exchange earnings has a significant role in creating a favorable environment for trade and investment, increasing production and productivity and ensuring the continuity of the Ethiopian economy.

He said various reforms have been made to maintain the health of Ethiopia's financial sector, which is growing year by year.

He also said that the financial sector shows a growth of more than 25 percent every year in the savings it collects and the loans it lends.

Ato Mamo explained that the tax collection is growing and the government's foreign debts are getting lighter.

He said that the economic reform measures are coordinated and will keep Ethiopia's economy stable, especially the export sector.