Ethiopian Inflation Rises to 38 Percent in June

PRLog (Press Release) - Jul. 17, 2011 - Ezega.com, Ethiopia’s leading internet portal, reported many interesting news and business data this week. The leading stories of the week were in relation to the rising inflation in the country. Inflation in June rose by 38.1 percent as a result of the infusion of more money into the market by the central bank. The rising prices of essential commodities and severe drought in the country have ensured that ordinary Ethiopians have no access to food and other basic goods. The IMF has warned Ethiopia that the constant rise in inflation might be a cause for great concern for the country, which threatens its economic growth. The entire Horn of Africa is, in fact, facing dramatic jump in inflation.

Also in the news was Ethiopian Prime Minister Meles Zenawi’s criticism of the World Bank and the IMF for doubting the country’s economic development capacity and terming the growth plan “unsustainable.” The prime minister criticized the two world bodies for rebuffing Ethiopia’s Growth and Transformation Plan only because his country did not implement the policy proposed by them. He said he would not let outsiders influence the policies of his country.

Another important piece of Ethiopian news during the week was the announcement by the government about the country’s need for $398 million as emergency humanitarian assistance in the wake of one of the severest droughts in the Horn of Africa.  Citing inadequate assistance from donors, the Ethiopian Government plans to distribute food aid from the national emergency reserve.

On the Ethiopian jobs front, Ezega.com posted various interesting jobs for the week. These include “Human Resource and Procurement Officer” posted by Kitchen World, “Marketing & Sales Manager” posted by Addis Pharmaceutical Factory PLC, and “Project Finance Officer” posted by CAFOD. For more information on these and other jobs, please visit http://www.Ezega.com/Jobs/index.aspx.

On the Real Estate section, Ezega.com posted several new properties for sale and rent in Ethiopia. These include “An Airy Well Built G+1 House IMBO 1368 for sale in Bole” for ETB  6500000.00; “Beautifully Designed and Attractive G+2 IMSU 1366 for sale in Summit” for ETB  2200000.00; and “Beautiful and Well Designed G+2 House IMMG 1374 on rent in Megenagna”  for ETB 3,000 per month. For more information on these and other properties, please visit http://www.Ezega.com/RealEstate/Index.aspx.

For detailed information on these and other posts at Ezega.com, please visit http://www.Ezega.com. Ezega.com is Ethiopia’s leading online source for News, Jobs, Real Estate, Classifieds, Entertainment, and Social Networking. For posting business data or advertising you business and services, please contact us at contact@ezega.com.
 
Other info:
Posted By: Ezega.com
Tel: 011-251-116-616943
Address: Hayahulet Mazoria, Bole, Addis Ababa
Zip / Zone: Bole
City: Addis Ababa
Country: Ethiopia

Website:
http://www.ezega.com

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Ezega.com is Ethiopia's leading web portal for Ethiopian news, jobs, real estate, classifieds, business directory, entertainment, and social media. The site is highly interactive and allows users to post and retrieve data easily.