NBE Forth Quarter of 2021 Report showed the nation’s economic development momentum remains solid despite growing inflation and troubling times.

Macroeconomic Development indicators at the end of the fourth quarter of 2020/21

  • Headline inflation went up to 8.2% in the fourth quarter of 2020/21, from 5.5% a quarter earlier.
  • Food & non-alcoholic beverages inflation increased by 6.6 while non-food inflations declined by 2.5% in the review quarter, NBE said.
  • Exchange rate of the Birr to USD showed a 25.6 percent annual depreciation.
  • Total revenue and grants collected by the Federal government declined by 8.5% to Birr 73.8 billion while its total expenditure increased by 3.2% to Birr 121.0 billion compared to a year ago.
  • 22 investment projects having investment capital of Birr 752.7 million became operational.
  • Broad money supply (M2) reached Birr 1.3 trillion showing a 30% annual growth.
  • Reserve money stood at Birr 264.3, billion showing 7.2 percent annual growth.
  • Average lending interest rate also remained unchanged at 14.25 year-on-year basis.
  • Average savings deposit rate remained at 8.0.
  • The number of banks operating in Ethiopia reached 19 of which 17 were private and 2 state owned with Birr 153.7 billion total capital.
  • Birr 105.9 billion was disbursed in fresh loans, indicating a 66.2% annual increase, during review quarter.
  • The number of insurance companies stood at 18, of which 17 were private and 1 state owned with Birr 11.1 billion total capital.
  • A total of 39 Microfinance Institutions were operating in the country. They mobilized Birr 52.4 billion in saving.
  • Merchandise export earnings amounted to USD 1.2 billion showing 24.8% annual growth.
  • Merchandise import bill at USD 3.9 billion depicted a 45.5% annual surge.
  • Overall balance of payments registered USD 933.5 million in surplus compared to USD 659.5 million surplus a year earlier.

Get the full report here https://cutt.ly/TTFrBoA

DISCLAIMER

The opinions expresses here in the post "National Bank of Ethiopia (NBE) Released the Fourth Quarter of 2020/21 Report" are those of the individua's contributor(s) and do not necessarily reflect the views of Business Info Ethiopia , BIE Intelligence PLC, its publisher, editor, or any of its other contributors.

Share.

Comments are closed.