Ethiopia secured more than $32 billion from foreign exchange revenue sources during the Ethiopian fiscal year ended July 7 amid positive macroeconomic reform measures, the National Bank of Ethiopia (NBE) has disclosed.
The announcement was made by Mamo Mihretu, Governor of the National Bank of Ethiopia (NBE), during the Ethiopian Finance Forum held in Addis Ababa.
The surge reflects the positive impact of ongoing structural macroeconomic reforms designed to revitalise the national economy and address long-standing external imbalances.
Governor Mihretu attributed the increase to a series of targeted policy interventions, particularly the liberalisation of the foreign currency market and the introduction of more responsive mechanisms for attracting external investment.