(3 minutes read)
Ethiopians started celebrations marking the Coptic New Year, known as Enkutatash, amidst challenges like high inflation and ongoing political and economic instability in the nation, emanating from problems in the Tigray region
Ethiopians started celebrations marking the Coptic New Year, known as Enkutatash, amidst challenges like high inflation and ongoing political and economic instability in the nation, emanating from problems in the Tigray region.
Read Also:
https://trendsnafrica.com/emergency-in-amhara-region-in-ethiopia/
The prices of essential groceries such as onions, chickens, and spices are sky high, even though the markets are in full swing while the customers are staring at pitched-up price tags. Economists refer to the present state as something closer to the elements demonstrated by a war economy, when commodities tend to be scarce. In such a state, the number of people in the productive sector decreases as conflict areas cease to be production hubs. The government expenditure on production also tends to shrink as the focus will be more on funding war or areas related to war reconstruction, which may not lead to an infusion of resources for productive purposes.
Read Also:
https://trendsnafrica.com/fast-track-negotiations-between-egypt-and-ethiopia-on-gerd-dispute/
In such a dispensation, the trade deficit also goes up, and hyperinflation sets in as is the case in the case of the Horn of African countries. Inflation hovers between 30 and 40 percent. Despite the adverse conditions that existed, people were in the street and engaged in the traditional festivities like family reunions, and the slaughter of sheep, goats, or oxen.
